Carlyle Secured Lending (NASDAQ:CGBD) Sets New 52-Week Low – What’s Next?

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) shares hit a new 52-week low on Monday . The company traded as low as $11.63 and last traded at $11.64, with a volume of 515467 shares. The stock had previously closed at $11.88.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CGBD shares. Wells Fargo & Company lowered their target price on shares of Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Raymond James Financial upgraded Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Tuesday, October 7th. JPMorgan Chase & Co. cut their target price on Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Zacks Research lowered Carlyle Secured Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Finally, B. Riley dropped their price target on shares of Carlyle Secured Lending from $14.50 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.33.

Carlyle Secured Lending Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $598.78 million, a P/E ratio of 9.96 and a beta of 0.87. The business has a fifty day moving average price of $12.59 and a 200-day moving average price of $13.44.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $66.51 million during the quarter, compared to analysts’ expectations of $69.61 million. Carlyle Secured Lending had a return on equity of 9.24% and a net margin of 30.18%. On average, sell-side analysts expect that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Carlyle Secured Lending’s payout ratio is presently 135.59%.

Institutional Investors Weigh In On Carlyle Secured Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rossby Financial LCC purchased a new stake in Carlyle Secured Lending during the 3rd quarter valued at $25,000. Quarry LP purchased a new position in shares of Carlyle Secured Lending in the 1st quarter worth $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Carlyle Secured Lending by 71.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock worth $36,000 after acquiring an additional 1,100 shares during the period. State of Alaska Department of Revenue purchased a new stake in Carlyle Secured Lending during the third quarter valued at $37,000. Finally, Tower Research Capital LLC TRC increased its position in Carlyle Secured Lending by 1,011.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock valued at $59,000 after acquiring an additional 3,925 shares during the last quarter. 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.