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

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.47 and last traded at $10.5950, with a volume of 2071 shares changing hands. The stock had previously closed at $10.55.

Analysts Set New Price Targets

Several equities research analysts recently commented on CGBD shares. B. Riley Financial reiterated a “buy” rating on shares of Carlyle Secured Lending in a research report on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, Wells Fargo & Company dropped their price target on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

Carlyle Secured Lending Stock Performance

The stock has a 50 day moving average of $11.16 and a 200 day moving average of $11.66. The company has a market capitalization of $735.73 million, a price-to-earnings ratio of 14.93 and a beta of 0.62. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.24.

Carlyle Secured Lending (NASDAQ:CGBD) last released its quarterly earnings results on Monday, May 11th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $64.08 million during the quarter, compared to analyst estimates of $65.78 million. As a group, analysts predict that Carlyle Secured Lending, Inc. will post 1.36 EPS for the current year.

Carlyle Secured Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 13.2%. Carlyle Secured Lending’s dividend payout ratio (DPR) is 225.35%.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in Carlyle Secured Lending by 71.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Carlyle Secured Lending during the fourth quarter worth $47,000. Tower Research Capital LLC TRC grew its stake in Carlyle Secured Lending by 1,011.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock valued at $59,000 after purchasing an additional 3,925 shares during the period. Beaumont Financial Advisors LLC purchased a new stake in shares of Carlyle Secured Lending during the 1st quarter valued at $110,000. Finally, SG Americas Securities LLC purchased a new position in Carlyle Secured Lending in the fourth quarter valued at about $112,000. 24.51% of the stock is owned by hedge funds and other 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.