Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts have a consensus “Hold” rating on Carlyle Secured Lending, with four holds and three buys among seven firms. The average 12-month price target is $12.25, while Wells Fargo set an $11.00 target.
• Carlyle Secured Lending declared a quarterly dividend of $0.35 per share, or $1.40 annualized, representing a 12.5% yield. The payout ratio is currently high at 274.51%.
• Institutional interest increased during the second quarter, with several hedge funds initiating positions and Van ECK Associates raising its stake by 33.2%; institutional investors now own 24.51% of the company.

Shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) have been given an average recommendation of "Hold" by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.25.

Separately, Wells Fargo & Company set a $11.00 price objective on shares of Carlyle Secured Lending in a report on Tuesday.

Carlyle Secured Lending Price Performance

Shares of NASDAQ CGBD opened at $11.20 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $770.67 million, a price-to-earnings ratio of 21.96 and a beta of 0.64. The firm's 50 day simple moving average is $11.11 and its 200-day simple moving average is $11.05. Carlyle Secured Lending has a 12 month low of $9.94 and a 12 month high of $13.28.

Carlyle Secured Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 12.5%. The ex-dividend date is Wednesday, September 30th. Carlyle Secured Lending's payout ratio is currently 274.51%.

Hedge Funds Weigh In On Carlyle Secured Lending

Hedge funds have recently bought and sold shares of the business. Lalia Capital LLC acquired a new position in shares of Carlyle Secured Lending during the second quarter valued at approximately $9,765,000. North Ground Capital purchased a new position in Carlyle Secured Lending in the 2nd quarter worth approximately $6,486,480. Legal & General Group Plc acquired a new position in Carlyle Secured Lending during the second quarter worth $6,090,000. Van ECK Associates Corp grew its holdings in shares of Carlyle Secured Lending by 33.2% in the second quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company's stock valued at $18,415,000 after purchasing an additional 436,365 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at approximately $2,953,000. Hedge funds and other institutional investors own 24.51% of the company's stock.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc NASDAQ: CGBD is a business development company that provides financing to privately owned, middle-market companies. The company's investment objective is to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

Carlyle Secured Lending primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and select equity investments. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses with experienced management teams and significant private equity sponsorship.

The company invests primarily in the United States and is externally managed by Carlyle Global Credit Investment Management LLC, an affiliate of The Carlyle Group.

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