Carlyle Secured Lending (NASDAQ:CGBD) Hits New 1-Year Low – Here’s What Happened

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.63 and last traded at $11.64, with a volume of 515467 shares traded. The stock had previously closed at $11.88.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CGBD. JPMorgan Chase & Co. cut their target price on shares of Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. B. Riley decreased their price target on shares of Carlyle Secured Lending from $14.50 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Raymond James Financial raised Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Tuesday, October 7th. Zacks Research cut Carlyle Secured Lending from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Finally, Wells Fargo & Company decreased their target price on Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.33.

Carlyle Secured Lending Stock Performance

The firm has a market cap of $593.17 million, a price-to-earnings ratio of 9.86 and a beta of 0.87. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average of $12.67 and a 200 day moving average of $13.48.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $66.51 million for the quarter, compared to analyst estimates of $69.61 million. Carlyle Secured Lending had a net margin of 30.18% and a return on equity of 9.24%. As a group, equities research analysts expect that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current fiscal year.

Carlyle Secured Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date is Wednesday, December 31st. Carlyle Secured Lending’s dividend payout ratio is 135.59%.

Insider Buying and Selling at Carlyle Secured Lending

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 bought at an average price of $13.75 per share, with a total value of $100,168.75. Following the transaction, the chief financial officer owned 88,495 shares of the company’s stock, valued at approximately $1,216,806.25. This trade represents a 8.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Carlyle Secured Lending

Hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in Carlyle Secured Lending by 92.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 88,352 shares of the company’s stock valued at $1,143,000 after buying an additional 42,420 shares during the last quarter. Caxton Associates LLP lifted its holdings in Carlyle Secured Lending by 63.1% during the 3rd quarter. Caxton Associates LLP now owns 48,026 shares of the company’s stock worth $600,000 after buying an additional 18,581 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Carlyle Secured Lending in the 3rd quarter worth approximately $974,000. Qube Research & Technologies Ltd grew its position in shares of Carlyle Secured Lending by 35.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 206,966 shares of the company’s stock worth $2,587,000 after acquiring an additional 54,359 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Carlyle Secured Lending by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 14,894 shares of the company’s stock valued at $186,000 after acquiring an additional 2,470 shares during the last quarter. 24.51% of the stock is currently owned by institutional investors and hedge funds.

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.