Mackenzie Financial Corp Makes New Investment in Carlyle Secured Lending, Inc. (NASDAQ:CGBD)

Key Points

• Mackenzie Financial Corp acquired 25,090 shares of Carlyle Secured Lending, valued at approximately $406,000, indicating institutional interest in the company.
• Carlyle Secured Lending reported a quarterly dividend of $0.40 per share, translating to an annual yield of 11.5%, with a dividend payout ratio of 133.33%.
• Current analyst ratings for Carlyle Secured Lending reflect a mixed outlook, with two sell ratings, three holds, and one buy, alongside a revised average target price of $15.25.

Mackenzie Financial Corp bought a new position in Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,090 shares of the company's stock, valued at approximately $406,000.

Several other hedge funds have also modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Carlyle Secured Lending by 3.8% in the fourth quarter. Bank of America Corp DE now owns 1,192,606 shares of the company's stock worth $21,383,000 after acquiring an additional 44,033 shares during the last quarter. Invesco Ltd. raised its stake in shares of Carlyle Secured Lending by 1,449.1% during 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. purchased a new stake in shares of Carlyle Secured Lending during the fourth quarter valued at approximately $3,223,000. Ameriprise Financial Inc. raised its stake in shares of Carlyle Secured Lending by 9.3% during the fourth quarter. Ameriprise Financial Inc. now owns 178,830 shares of the company's stock valued at $3,207,000 after purchasing an additional 15,143 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Carlyle Secured Lending during the fourth quarter valued at approximately $2,340,000. 24.51% of the stock is owned by institutional investors and hedge funds.

Carlyle Secured Lending Stock Performance

Shares of NASDAQ CGBD traded up $0.09 during midday trading on Tuesday, reaching $13.91. 95,352 shares of the company traded hands, compared to its average volume of 346,798. Carlyle Secured Lending, Inc. has a 52 week low of $13.12 and a 52 week high of $18.64. The stock has a 50-day moving average price of $13.92 and a 200 day moving average price of $15.21. 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 company has a market cap of $708.60 million, a price-to-earnings ratio of 11.59 and a beta of 0.88.

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

Carlyle Secured Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Carlyle Secured Lending's dividend payout ratio is presently 133.33%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CGBD. Wells Fargo & Company upgraded shares of Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Friday, July 25th. JPMorgan Chase & Co. dropped their price target on shares of Carlyle Secured Lending from $17.00 to $14.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. Oppenheimer dropped their price target on shares of Carlyle Secured Lending from $17.00 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. B. Riley restated a "neutral" rating and issued a $14.50 price target (up previously from $14.00) on shares of Carlyle Secured Lending in a research note on Monday. Finally, Raymond James Financial assumed coverage on shares of Carlyle Secured Lending in a report on Thursday, July 17th. They issued a "market perform" rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.10.

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.