Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Sees Significant Growth in Short Interest

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 2,874,131 shares, an increase of 119.2% from the February 26th total of 1,311,103 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 801,555 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

Several brokerages have commented on CGBD. Citigroup assumed coverage on Carlyle Secured Lending in a research report on Monday, December 8th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their target price 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. Citizens Jmp started coverage on shares of Carlyle Secured Lending in a research note on Monday, December 8th. They set a “market perform” rating for the company. JPMorgan Chase & Co. cut their price target on shares of 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, B. Riley Financial upgraded shares of Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.20.

Insider Buying and Selling at Carlyle Secured Lending

In other news, Director John G. Nestor sold 4,401 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $11.29, for a total value of $49,687.29. Following the sale, the director directly owned 5,516 shares in the company, valued at approximately $62,275.64. This represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in CGBD. Choreo LLC purchased a new position in Carlyle Secured Lending in the second quarter valued at about $20,529,000. Rivernorth Capital Management LLC raised its holdings in Carlyle Secured Lending by 58.2% in the fourth quarter. Rivernorth Capital Management LLC now owns 1,900,728 shares of the company’s stock worth $23,740,000 after purchasing an additional 699,586 shares in the last quarter. Cliffwater LLC purchased a new stake in shares of Carlyle Secured Lending during the second quarter valued at about $7,505,000. Toronto Dominion Bank purchased a new stake in shares of Carlyle Secured Lending during the fourth quarter valued at about $6,245,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Carlyle Secured Lending by 199.4% in the 3rd quarter. Two Sigma Investments LP now owns 727,570 shares of the company’s stock valued at $9,095,000 after buying an additional 484,581 shares in the last quarter. Institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Stock Performance

Carlyle Secured Lending stock opened at $11.29 on Thursday. The company has a 50 day moving average price of $11.74 and a 200-day moving average price of $12.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. Carlyle Secured Lending has a fifty-two week low of $10.61 and a fifty-two week high of $17.00. The company has a market capitalization of $797.98 million, a PE ratio of 11.07 and a beta of 0.70.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $67.26 million. As a group, equities analysts forecast that Carlyle Secured Lending will post 1.97 earnings per share for the current year.

Carlyle Secured Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Tuesday, March 31st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 14.2%. The ex-dividend date is Tuesday, March 31st. Carlyle Secured Lending’s dividend payout ratio is currently 156.86%.

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.