Carlyle Secured Lending (NASDAQ:CGBD) Sees Large Volume Increase – Here’s Why

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) shares saw strong trading volume on Thursday . Approximately 665,241 shares changed hands during trading, an increase of 4% from the previous session’s volume of 638,873 shares.The stock last traded at $11.5040 and had previously closed at $11.33.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CGBD. B. Riley Financial reissued a “buy” rating on shares of Carlyle Secured Lending in a report on Tuesday, May 12th. Wells Fargo & Company cut their price target on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Carlyle Secured Lending Stock Performance

The firm has a 50-day moving average of $10.75 and a two-hundred day moving average of $11.06. 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 company has a market capitalization of $810.58 million, a PE ratio of 23.10 and a beta of 0.62.

Carlyle Secured Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 11.9%. Carlyle Secured Lending’s dividend payout ratio is presently 274.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CGBD. Royal Bank of Canada boosted its stake in Carlyle Secured Lending by 1.9% during the first quarter. Royal Bank of Canada now owns 275,612 shares of the company’s stock worth $4,460,000 after buying an additional 5,054 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Carlyle Secured Lending by 71.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Carlyle Secured Lending during the 2nd quarter valued at about $146,000. Invesco Ltd. grew its stake in shares of Carlyle Secured Lending by 18.5% in the 2nd quarter. Invesco Ltd. now owns 779,586 shares of the company’s stock valued at $10,665,000 after buying an additional 121,686 shares during the period. Finally, Jump Financial LLC purchased a new position in Carlyle Secured Lending in the second quarter worth approximately $179,000. 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 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.