Carlyle Secured Lending (NASDAQ:CGBD) Sets New 12-Month Low – Here’s Why

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) hit a new 52-week low during trading on Friday . The stock traded as low as $14.85 and last traded at $15.11, with a volume of 293645 shares traded. The stock had previously closed at $15.97.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CGBD shares. Bank of America cut Carlyle Secured Lending from a “buy” rating to an “underperform” rating and set a $17.00 price objective for the company. in a research report on Monday, February 10th. Wells Fargo & Company upped their target price on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd.

Carlyle Secured Lending Price Performance

The company has a market cap of $752.63 million, a price-to-earnings ratio of 8.25 and a beta of 1.22. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $17.37 and a two-hundred day moving average price of $17.42.

Carlyle Secured Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 24th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 10.83%. The ex-dividend date is Monday, March 24th. Carlyle Secured Lending’s dividend payout ratio (DPR) is presently 98.77%.

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. Jane Street Group LLC lifted its stake in Carlyle Secured Lending by 30.9% during the third quarter. Jane Street Group LLC now owns 13,775 shares of the company’s stock worth $234,000 after purchasing an additional 3,249 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Carlyle Secured Lending during the 3rd quarter worth approximately $492,000. Hager Investment Management Services LLC acquired a new stake in Carlyle Secured Lending in the 4th quarter valued at $4,093,000. Raymond James Financial Inc. acquired a new stake in Carlyle Secured Lending in the 4th quarter valued at $3,223,000. Finally, Franklin Resources Inc. bought a new stake in Carlyle Secured Lending in the third quarter valued at $585,000. 24.51% of the stock is owned by institutional investors.

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.