Connor Clark & Lunn Investment Management Ltd. Sells 19,563 Shares of Carlyle Secured Lending, Inc. $CGBD

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Carlyle Secured Lending, Inc. by 48.9%, now holding 20,413 shares valued at approximately $330,000.
• Analysts have varied opinions on Carlyle Secured Lending, with B. Riley issuing a price target of $14.50 and Wells Fargo raising its target to $15.00, while JPMorgan lowered theirs to $14.00.
• The company declared a quarterly dividend of $0.40 per share, reflecting an annualized payment of $1.60 and a dividend yield of 11.6%.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 48.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,413 shares of the company's stock after selling 19,563 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Carlyle Secured Lending were worth $330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aquatic Capital Management LLC boosted its position in shares of Carlyle Secured Lending by 541.8% in the fourth quarter. Aquatic Capital Management LLC now owns 2,567 shares of the company's stock worth $46,000 after buying an additional 2,167 shares during the period. Canton Hathaway LLC raised its holdings in shares of Carlyle Secured Lending by 271.0% during the first quarter. Canton Hathaway LLC now owns 9,795 shares of the company's stock worth $158,000 after acquiring an additional 7,155 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Carlyle Secured Lending by 17.1% during the first quarter. Sunbelt Securities Inc. now owns 10,297 shares of the company's stock worth $167,000 after acquiring an additional 1,500 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Carlyle Secured Lending during the first quarter worth $170,000. Finally, Lido Advisors LLC raised its holdings in shares of Carlyle Secured Lending by 12.3% during the fourth quarter. Lido Advisors LLC now owns 11,416 shares of the company's stock worth $210,000 after acquiring an additional 1,247 shares in the last quarter. Institutional investors and hedge funds own 24.51% of the company's stock.

Carlyle Secured Lending Stock Down 2.1%

NASDAQ CGBD traded down $0.29 during trading on Monday, hitting $13.70. 426,130 shares of the company traded hands, compared to its average volume of 494,890. Carlyle Secured Lending, Inc. has a 12 month low of $13.12 and a 12 month high of $18.64. The business has a fifty day simple moving average of $13.87 and a 200 day simple moving average of $14.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $698.15 million, a P/E ratio of 11.42 and a beta of 0.88.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $67.28 million for the quarter, compared to analyst estimates of $67.53 million. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%. As a group, sell-side analysts predict that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.7%. Carlyle Secured Lending's payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

CGBD has been the subject of several recent research reports. Raymond James Financial initiated coverage on Carlyle Secured Lending in a report on Thursday, July 17th. They set a "market perform" rating for the company. Oppenheimer cut their price objective on Carlyle Secured Lending from $17.00 to $15.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company upgraded Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $13.00 to $15.00 in a report on Friday, July 25th. Finally, B. Riley reiterated a "neutral" rating and set a $14.50 price objective (up from $14.00) on shares of Carlyle Secured Lending in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $15.10.

Insider Transactions at Carlyle Secured Lending

In other Carlyle Secured Lending news, CFO Thomas M. Hennigan acquired 7,285 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $100,168.75. Following the completion of the purchase, the chief financial officer owned 88,495 shares of the company's stock, valued at approximately $1,216,806.25. This trade represents a 8.97% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John G. Nestor sold 13,238 shares of Carlyle Secured Lending stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $13.49, for a total value of $178,580.62. Following the completion of the transaction, the director owned 14,593 shares in the company, valued at $196,859.57. The trade was a 47.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.