Carlyle Secured Lending (NASDAQ:CGBD) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Carlyle Secured Lending shares rose 2.6% and crossed above their 200-day moving average of $11.11, last trading at $11.17.
• Analyst sentiment is mostly cautious: one analyst rates CGBD a Buy and five rate it Hold, with an average price target of $11.25. Wells Fargo downgraded the stock to Equal Weight and cut its target to $11.
• The company reported quarterly EPS of $0.36, in line with estimates, and declared a $0.35 quarterly dividend—an indicated annual yield of 12.5%.

Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $11.11 and traded as high as $11.20. Carlyle Secured Lending shares last traded at $11.17, with a volume of 464,531 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CGBD shares. Zacks Research lowered shares of Carlyle Secured Lending from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company lowered Carlyle Secured Lending from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $12.00 to $11.00 in a report on Tuesday, September 29th. Finally, Raymond James Financial set a $11.00 price target on shares of Carlyle Secured Lending in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.25.

Carlyle Secured Lending Trading Up 2.6%

The business has a 50 day moving average of $10.95 and a 200 day moving average of $11.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.20. The firm has a market cap of $768.61 million, a price-to-earnings ratio of 21.08 and a beta of 0.66.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.36. Carlyle Secured Lending had a net margin of 14.26% and a return on equity of 8.85%. The business had revenue of $63.20 million for the quarter, compared to analyst estimates of $63.11 million. On average, research analysts forecast that Carlyle Secured Lending, Inc. will post 1.43 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 Tuesday, January 19th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.40 annualized dividend and a yield of 12.5%. Carlyle Secured Lending's payout ratio is currently 274.51%.

Hedge Funds Weigh In On Carlyle Secured Lending

Several large investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in Carlyle Secured Lending by 33.2% in the second quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company's stock valued at $18,415,000 after purchasing an additional 436,365 shares during the period. Choreo LLC lifted its stake in Carlyle Secured Lending by 2.6% in the third quarter. Choreo LLC now owns 1,397,178 shares of the company's stock valued at $14,936,000 after buying an additional 35,927 shares during the period. Lalia Capital LLC bought a new stake in Carlyle Secured Lending during the second quarter worth $9,765,000. Russell Investments Group Ltd. increased its stake in Carlyle Secured Lending by 3.3% in the third quarter. Russell Investments Group Ltd. now owns 899,538 shares of the company's stock valued at $9,616,000 after acquiring an additional 29,025 shares during the last quarter. Finally, North Ground Capital acquired a new stake in Carlyle Secured Lending during the 2nd quarter worth about $6,486,480. 24.51% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc NASDAQ: CGBD is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.

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