Carlyle Secured Lending (NASDAQ:CGBD) Reaches New 12-Month Low – Here’s What Happened

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.55 and last traded at $11.6060, with a volume of 201751 shares traded. The stock had previously closed at $11.79.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup assumed coverage on shares of Carlyle Secured Lending in a report on Monday, December 8th. They set a “market perform” rating on the stock. Wall Street Zen upgraded shares of Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. B. Riley Financial decreased their target price on Carlyle Secured Lending from $14.50 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Zacks Research raised Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. cut their price target on Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.80.

Carlyle Secured Lending Price Performance

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $12.78. The stock has a market capitalization of $592.41 million, a price-to-earnings ratio of 9.83 and a beta of 0.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CGBD. Mackenzie Financial Corp increased its holdings in shares of Carlyle Secured Lending by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 27,466 shares of the company’s stock valued at $348,000 after purchasing an additional 857 shares during the period. XTX Topco Ltd bought a new position in Carlyle Secured Lending in the 4th quarter valued at about $1,171,000. Toronto Dominion Bank bought a new position in Carlyle Secured Lending in the 4th quarter valued at about $6,245,000. Rivernorth Capital Management LLC increased its stake in Carlyle Secured Lending by 58.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 1,900,728 shares of the company’s stock valued at $23,740,000 after buying an additional 699,586 shares during the period. Finally, Almitas Capital LLC bought a new stake in shares of Carlyle Secured Lending during the 4th quarter worth about $536,000. 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.