TrueMark Investments LLC Boosts Stake in Carlyle Secured Lending, Inc. $CGBD

Key Points

• TrueMark Investments boosted its stake in Carlyle Secured Lending by 517.5% in Q4 to 111,844 shares (about 0.22% of the company) valued at ~$1.40 million; institutional investors now own 24.51% of the stock.
• Carlyle declared a quarterly dividend of $0.40 (annualized $1.60) with a 14.6% yield and ex-dividend date March 31, but the dividend payout ratio is a high 156.86%, raising sustainability concerns.
• The company recently missed quarterly expectations with $0.33 EPS vs. $0.38 est. and slightly lower revenue, and analysts hold a consensus "Hold" rating with a $13.20 target while the stock trades near $10.97 (52-week range $10.61–$16.92).

TrueMark Investments LLC boosted its holdings in Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 517.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,844 shares of the company's stock after acquiring an additional 93,731 shares during the quarter. TrueMark Investments LLC owned about 0.22% of Carlyle Secured Lending worth $1,397,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CGBD. Advisory Research Inc. boosted its position in shares of Carlyle Secured Lending by 9.2% during the 3rd quarter. Advisory Research Inc. now owns 11,340 shares of the company's stock worth $142,000 after purchasing an additional 953 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Carlyle Secured Lending by 71.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company's stock valued at $36,000 after purchasing an additional 1,100 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Carlyle Secured Lending in the 3rd quarter valued at about $25,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Carlyle Secured Lending by 4.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company's stock valued at $629,000 after purchasing an additional 2,040 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of Carlyle Secured Lending by 18.2% in the third quarter. HB Wealth Management LLC now owns 13,940 shares of the company's stock valued at $174,000 after purchasing an additional 2,150 shares during the period. Institutional investors and hedge funds own 24.51% of the company's stock.

Carlyle Secured Lending Price Performance

Carlyle Secured Lending stock opened at $10.97 on Monday. The firm has a market capitalization of $775.33 million, a PE ratio of 10.76 and a beta of 0.70. Carlyle Secured Lending, Inc. has a 52 week low of $10.61 and a 52 week high of $16.92. The firm's 50-day simple moving average is $11.67 and its 200 day simple moving average is $12.27. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). The business had revenue of $66.91 million for the quarter, compared to analysts' expectations of $67.26 million. Carlyle Secured Lending had a net margin of 27.38% and a return on equity of 8.56%. On average, equities research analysts predict that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current fiscal year.

Carlyle Secured Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Carlyle Secured Lending's dividend payout ratio (DPR) is 156.86%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CGBD shares. Citigroup assumed coverage on shares of Carlyle Secured Lending in a research report on Monday, December 8th. They set a "market perform" rating on the stock. B. Riley Financial upgraded shares of Carlyle Secured Lending from a "neutral" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Wednesday, February 25th. Zacks Research raised Carlyle Secured Lending from a "strong sell" rating to a "hold" rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. lowered their price target on Carlyle Secured Lending from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, March 13th. Finally, Wells Fargo & Company dropped their price objective on Carlyle Secured Lending from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, February 27th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $13.20.

Insider Activity

In related news, Director John G. Nestor sold 4,401 shares of Carlyle Secured Lending stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $11.29, for a total transaction of $49,687.29. Following the completion of the transaction, the director directly owned 5,516 shares in the company, valued at $62,275.64. The trade was a 44.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by corporate insiders.

About Carlyle Secured Lending

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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