Carlyle Secured Lending (NASDAQ:CGBD) Shares Gap Down to $17.52

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $17.52, but opened at $17.00. Carlyle Secured Lending shares last traded at $17.06, with a volume of 20,918 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CGBD shares. JPMorgan Chase & Co. cut shares of Carlyle Secured Lending from a “neutral” rating to an “underweight” rating and set a $17.00 price target on the stock. in a report on Monday, July 29th. Wells Fargo & Company cut their target price on Carlyle Secured Lending from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th.

Carlyle Secured Lending Stock Down 2.9 %

The firm has a market cap of $864.53 million, a P/E ratio of 10.25 and a beta of 1.59. The company’s 50 day simple moving average is $17.02 and its 200-day simple moving average is $17.23. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.05.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Carlyle Secured Lending had a return on equity of 12.74% and a net margin of 44.19%. The company had revenue of $58.26 million during the quarter, compared to analyst estimates of $42.21 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. Research analysts forecast that Carlyle Secured Lending, Inc. will post 1.96 earnings per share for the current fiscal year.

Carlyle Secured Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 11.05%. The ex-dividend date is Monday, September 30th. Carlyle Secured Lending’s payout ratio is currently 93.57%.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of institutional investors and hedge funds have recently made changes to their positions in CGBD. Kimelman & Baird LLC bought a new position in Carlyle Secured Lending in the second quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. bought a new position in Carlyle Secured Lending in the 2nd quarter worth $52,000. nVerses Capital LLC purchased a new position in Carlyle Secured Lending during the second quarter valued at $53,000. Tucker Asset Management LLC bought a new stake in Carlyle Secured Lending during the fourth quarter valued at about $80,000. Finally, Kingsview Wealth Management LLC bought a new stake in Carlyle Secured Lending during the first quarter valued at about $171,000. Hedge funds and other institutional investors own 24.51% of the company’s stock.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.