Bank of America Corp DE Sells 93,532 Shares of Carlyle Secured Lending, Inc. $CGBD

Key Points

• Bank of America reduced its Carlyle Secured Lending stake by 27.2%, selling 93,532 shares and retaining 250,889 shares valued at approximately $2.75 million. Institutional investors collectively own 24.51% of the company.
• Carlyle Secured Lending declared a quarterly dividend of $0.35 per share, or $1.40 annualized, representing an 11.7% yield; the payout ratio is 274.51%.
• CGBD shares recently traded at $11.98, while analysts hold a consensus “Hold” rating with a $12.50 price target. The stock’s 52-week range is $9.94 to $14.00.

Bank of America Corp DE lowered its position in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 27.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 250,889 shares of the company's stock after selling 93,532 shares during the quarter. Bank of America Corp DE owned 0.36% of Carlyle Secured Lending worth $2,745,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Carlyle Secured Lending by 1.9% in the first quarter. Royal Bank of Canada now owns 275,612 shares of the company's stock valued at $4,460,000 after purchasing an additional 5,054 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Carlyle Secured Lending by 71.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company's stock worth $36,000 after buying an additional 1,100 shares in the last quarter. Quantbot Technologies LP bought a new stake in Carlyle Secured Lending during the 2nd quarter worth about $146,000. Invesco Ltd. boosted its stake in shares of Carlyle Secured Lending by 18.5% during the 2nd quarter. Invesco Ltd. now owns 779,586 shares of the company's stock worth $10,665,000 after buying an additional 121,686 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Carlyle Secured Lending during the second quarter valued at approximately $179,000. 24.51% of the stock is owned by institutional investors.

Carlyle Secured Lending Price Performance

Shares of NASDAQ CGBD opened at $11.98 on Tuesday. The business's 50 day moving average price is $10.77 and its two-hundred day moving average price is $11.05. The company has a market cap of $824.34 million, a PE ratio of 23.49 and a beta of 0.62. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending, Inc. has a twelve month low of $9.94 and a twelve month high of $14.00.

Carlyle Secured Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders 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 11.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Carlyle Secured Lending's payout ratio is 274.51%.

Analyst Ratings Changes

A number of research analysts have weighed in on CGBD shares. B. Riley Financial restated a "buy" rating on shares of Carlyle Secured Lending in a research note on Tuesday, May 12th. Wells Fargo & Company decreased their target price on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.50.

Carlyle Secured Lending Profile

Carlyle Secured Lending, Inc NASDAQ: CGBD is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.

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