Carlyle Secured Lending, Inc. $CGBD Shares Sold by Connor Clark & Lunn Investment Management Ltd.

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. reduced its position in Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 48.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CGBD. JPMorgan Chase & Co. grew its position in shares of Carlyle Secured Lending by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 29,629 shares of the company's stock valued at $531,000 after purchasing an additional 8,129 shares during the period. Wells Fargo & Company MN grew its position in shares of Carlyle Secured Lending by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 31,778 shares of the company's stock valued at $570,000 after purchasing an additional 2,893 shares during the period. Invesco Ltd. grew its position in shares of Carlyle Secured Lending by 1,449.1% in the fourth quarter. Invesco Ltd. now owns 659,564 shares of the company's stock valued at $11,826,000 after purchasing an additional 616,988 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Carlyle Secured Lending in the fourth quarter valued at about $3,223,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Carlyle Secured Lending by 54.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 47,988 shares of the company's stock valued at $860,000 after purchasing an additional 16,930 shares during the period. 24.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Carlyle Secured Lending Price Performance

Shares of Carlyle Secured Lending stock traded up $0.26 during trading hours on Friday, reaching $13.99. 406,333 shares of the company's stock were exchanged, compared to its average volume of 515,909. Carlyle Secured Lending, Inc. has a 1 year low of $13.12 and a 1 year high of $18.64. The company has a market capitalization of $712.93 million, a P/E ratio of 11.66 and a beta of 0.88. The business has a fifty day moving average of $13.87 and a two-hundred day moving average of $14.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last announced its quarterly 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 firm had revenue of $67.28 million for the quarter, compared to analysts' expectations of $67.53 million. Carlyle Secured Lending had a net margin of 29.71% and a return on equity of 9.85%. As a group, research analysts predict that Carlyle Secured Lending, Inc. will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 11.4%. Carlyle Secured Lending's payout ratio is presently 133.33%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of Carlyle Secured Lending from $17.00 to $15.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. B. Riley reaffirmed a "neutral" rating and set a $14.50 target price (up previously from $14.00) on shares of Carlyle Secured Lending in a report on Monday, August 11th. Wells Fargo & Company raised shares of Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $13.00 to $15.00 in a report on Friday, July 25th. Finally, Raymond James Financial assumed coverage on shares of Carlyle Secured Lending in a report on Thursday, July 17th. They set a "market perform" rating for the company. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Carlyle Secured Lending presently has a consensus rating of "Reduce" and a consensus price target of $15.10.

Carlyle Secured Lending 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.