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

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.62 and last traded at $10.66, with a volume of 242887 shares. The stock had previously closed at $11.02.

Wall Street Analyst Weigh In

A number of research firms have commented on CGBD. Wells Fargo & Company lowered their price target on Carlyle Secured Lending from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Wall Street Zen upgraded Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. B. Riley Financial raised Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, February 25th. Zacks Research upgraded Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Citizens Jmp started coverage on Carlyle Secured Lending in a research note on Monday, December 8th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.60.

Carlyle Secured Lending Trading Down 2.4%

The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50 day moving average is $12.15 and its 200-day moving average is $12.57. The company has a market capitalization of $760.52 million, a P/E ratio of 10.55 and a beta of 0.70.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its quarterly earnings data 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). Carlyle Secured Lending had a net margin of 27.38% and a return on equity of 8.56%. The firm had revenue of $66.91 million for the quarter, compared to the consensus estimate of $67.26 million. As a group, equities research analysts anticipate that Carlyle Secured Lending, Inc. will post 1.97 earnings per share for the current year.

Carlyle Secured Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 14.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Carlyle Secured Lending’s dividend payout ratio is presently 156.86%.

Hedge Funds Weigh In On Carlyle Secured Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGBD. Rossby Financial LCC purchased a new stake in shares of Carlyle Secured Lending in the 3rd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. lifted its position in 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 period. State of Alaska Department of Revenue purchased a new position in Carlyle Secured Lending during the 3rd quarter valued at about $37,000. Kestra Advisory Services LLC bought a new stake in Carlyle Secured Lending during the fourth quarter worth about $47,000. Finally, Tower Research Capital LLC TRC boosted its stake in Carlyle Secured Lending by 1,011.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock worth $59,000 after acquiring an additional 3,925 shares in the last quarter. Hedge funds and other institutional investors own 24.51% of the company’s stock.

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.