GFS Advisors LLC Makes New Investment in Carlyle Secured Lending, Inc. $CGBD

Key Points

• GFS Advisors LLC has acquired 49,700 shares of Carlyle Secured Lending, Inc. in Q2, amounting to approximately $680,000, bringing its total ownership to 0.10% of the company.
• Carlyle Secured Lending announced a quarterly dividend of $0.40, leading to an annualized yield of 13.6%, despite a dividend payout ratio of 133.33%.
• The stock currently has an average analyst rating of "Hold" with a price target of $14.83, following upgrades from several brokerages.

GFS Advisors LLC purchased a new position in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,700 shares of the company's stock, valued at approximately $680,000. GFS Advisors LLC owned about 0.10% of Carlyle Secured Lending as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in Carlyle Secured Lending by 36.5% during the second quarter. Apollon Wealth Management LLC now owns 32,590 shares of the company's stock worth $446,000 after purchasing an additional 8,707 shares during the last quarter. Hager Investment Management Services LLC lifted its stake in Carlyle Secured Lending by 4.5% during the second quarter. Hager Investment Management Services LLC now owns 236,263 shares of the company's stock worth $3,232,000 after purchasing an additional 10,097 shares during the last quarter. Eagle Strategies LLC bought a new stake in Carlyle Secured Lending during the second quarter worth about $203,000. Prime Capital Investment Advisors LLC bought a new stake in Carlyle Secured Lending during the second quarter worth about $30,158,000. Finally, Catalina Capital Group LLC bought a new stake in Carlyle Secured Lending during the second quarter worth about $263,000. Institutional investors own 24.51% of the company's stock.

Insider Activity

In related news, CFO Thomas M. Hennigan bought 7,285 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost 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 approximately $1,216,806.25. This trade represents a 8.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John G. Nestor sold 13,238 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $13.49, for a total transaction of $178,580.62. Following the completion of the sale, the director directly owned 14,593 shares of the company's stock, valued at approximately $196,859.57. This represents a 47.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company's stock.

Carlyle Secured Lending Stock Down 1.3%

Shares of NASDAQ:CGBD opened at $11.73 on Friday. Carlyle Secured Lending, Inc. has a 1 year low of $11.65 and a 1 year high of $18.64. The company has a market cap of $597.76 million, a PE ratio of 9.78 and a beta of 0.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.73. The stock's 50-day moving average is $13.38 and its 200 day moving average is $13.93.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.39. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%.The company had revenue of $67.28 million for the quarter, compared to the consensus estimate of $67.53 million. Sell-side analysts anticipate that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Carlyle Secured Lending's dividend payout ratio (DPR) is currently 133.33%.

Analyst Ratings Changes

Several brokerages have issued reports on CGBD. Raymond James Financial raised Carlyle Secured Lending from a "market perform" rating to an "outperform" rating and set a $15.00 price target for the company in a research note on Tuesday, October 7th. JPMorgan Chase & Co. upgraded Carlyle Secured Lending from an "underweight" rating to a "neutral" rating and decreased their price objective for the stock from $13.50 to $12.50 in a report on Wednesday, October 1st. Wells Fargo & Company upgraded Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and lifted 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 issued a $14.50 price objective (up previously from $14.00) on shares of Carlyle Secured Lending in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $14.83.

About Carlyle Secured Lending

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.

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