Carlyle Secured Lending (NASDAQ:CGBD) Sets New 1-Year Low – Here’s Why

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $10.45 and last traded at $10.4980, with a volume of 342581 shares trading hands. The stock had previously closed at $10.53.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CGBD shares. B. Riley Financial reissued a “buy” rating on shares of Carlyle Secured Lending in a research report on Tuesday, May 12th. Wells Fargo & Company cut their price target on Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Carlyle Secured Lending from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Carlyle Secured Lending currently has an average rating of “Hold” and an average price target of $12.50.

Carlyle Secured Lending Price Performance

The stock has a market cap of $725.30 million, a P/E ratio of 14.68 and a beta of 0.62. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $11.01 and its 200-day simple moving average is $11.54.

Carlyle Secured Lending (NASDAQ:CGBD) last released its quarterly earnings data on Monday, May 11th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Carlyle Secured Lending had a net margin of 19.52% and a return on equity of 8.99%. The company had revenue of $64.08 million during the quarter, compared to the consensus estimate of $65.78 million. As a group, sell-side analysts forecast that Carlyle Secured Lending, Inc. will post 1.36 EPS for the current year.

Carlyle Secured Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date is Tuesday, June 30th. Carlyle Secured Lending’s dividend payout ratio is 197.18%.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of large investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC grew its holdings in Carlyle Secured Lending by 58.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 1,900,728 shares of the company’s stock worth $23,740,000 after acquiring an additional 699,586 shares during the last quarter. Toronto Dominion Bank bought a new stake in Carlyle Secured Lending in the fourth quarter valued at about $6,245,000. Two Sigma Investments LP increased its stake 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 acquiring an additional 484,581 shares during the last quarter. North Ground Capital raised its holdings in Carlyle Secured Lending by 91.6% in the fourth quarter. North Ground Capital now owns 912,220 shares of the company’s stock worth $11,394,000 after purchasing an additional 436,086 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new stake in Carlyle Secured Lending during the 4th quarter worth $3,190,000. 24.51% of the stock is currently owned by institutional investors.

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.