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

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citizens Jmp initiated coverage on shares of Carlyle Secured Lending in a report on Monday, December 8th. They set a “market perform” rating for the company. Citigroup began coverage on Carlyle Secured Lending in a research note on Monday, December 8th. They issued a “market perform” rating on the stock. Zacks Research upgraded Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. 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 report on Wednesday, February 25th. Finally, Wells Fargo & Company cut their target price on Carlyle Secured Lending from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Carlyle Secured Lending has a consensus rating of “Hold” and an average target price of $13.60.

Carlyle Secured Lending Trading Down 2.4%

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

Carlyle Secured Lending (NASDAQ:CGBD) last released 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 return on equity of 8.56% and a net margin of 27.38%.The firm had revenue of $66.91 million during the quarter, compared to analysts’ expectations of $67.26 million. As a group, equities research analysts predict that Carlyle Secured Lending, Inc. will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Announces Dividend

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 given 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 (DPR) is presently 156.86%.

Institutional Investors Weigh In On Carlyle Secured Lending

Several hedge funds and other institutional investors have recently made changes to their positions in CGBD. Royal Bank of Canada grew its position 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 valued at $4,460,000 after buying an additional 5,054 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Carlyle Secured Lending by 9.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 67,308 shares of the company’s stock worth $921,000 after acquiring an additional 5,599 shares during the last quarter. Cascade Financial Partners LLC purchased a new position in shares of Carlyle Secured Lending during the 2nd quarter worth $600,000. Creative Planning grew its position in shares of Carlyle Secured Lending by 0.9% during the 2nd quarter. Creative Planning now owns 4,916,335 shares of the company’s stock valued at $67,255,000 after acquiring an additional 44,062 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Carlyle Secured Lending by 15.3% in the 2nd quarter. Cetera Investment Advisers now owns 67,124 shares of the company’s stock worth $918,000 after purchasing an additional 8,929 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.