Bank of America Corp DE Acquires 280,420 Shares of Carlyle Secured Lending, Inc. $CGBD

Key Points

• Bank of America acquired 280,420 shares of Carlyle Secured Lending during the second quarter, valued at approximately $2.95 million and representing a 0.41% stake.
• Carlyle Secured Lending announced a quarterly dividend of $0.35 per share, or $1.40 annualized, implying a 12.6% yield; its payout ratio is 274.51%.
• CGBD shares opened at $11.10, while analysts maintained an overall “Hold” rating with an average price target of $12.25. Wells Fargo lowered its target to $11 from $12.

Bank of America Corp DE bought a new stake in Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 280,420 shares of the company's stock, valued at approximately $2,953,000. Bank of America Corp DE owned 0.41% of Carlyle Secured Lending at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CGBD. Allworth Financial LP purchased a new stake in shares of Carlyle Secured Lending in the second quarter worth about $27,000. Burk Holdings LLC bought a new position in shares of Carlyle Secured Lending in the second quarter valued at approximately $37,000. Beaumont Financial Advisors LLC purchased a new position in Carlyle Secured Lending during the first quarter valued at approximately $110,000. SCS Capital Management LLC bought a new stake in Carlyle Secured Lending during the 2nd quarter worth approximately $123,000. Finally, CFO4Life Group LLC bought a new stake in Carlyle Secured Lending during the 2nd quarter worth approximately $129,000. 24.51% of the stock is currently owned by institutional investors.

Carlyle Secured Lending Stock Down 0.9%

CGBD opened at $11.10 on Wednesday. The company has a market cap of $763.74 million, a P/E ratio of 21.77 and a beta of 0.64. The business's 50-day moving average price is $11.12 and its 200-day moving average price is $11.05. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending, Inc. has a 12 month low of $9.94 and a 12 month high of $13.28.

Carlyle Secured Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Carlyle Secured Lending's dividend payout ratio (DPR) is 274.51%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reiterated an "equal weight" rating and issued a $11.00 target price (down from $12.00) on shares of Carlyle Secured Lending in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Carlyle Secured Lending presently has an average rating of "Hold" and an average price target of $12.25.

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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