Carlyle Secured Lending (NASDAQ:CGBD) Sets New 52-Week Low Following Insider Selling

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s stock price hit a new 52-week low during mid-day trading on Monday following insider selling activity. The company traded as low as $10.62 and last traded at $10.66, with a volume of 242887 shares traded. The stock had previously closed at $11.02.

Specifically, Director John G. Nestor sold 4,401 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $11.29, for a total transaction of $49,687.29. Following the completion of the sale, the director owned 5,516 shares in the company, valued at $62,275.64. This represents a 44.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

Several research analysts have commented on CGBD shares. Citigroup began coverage on Carlyle Secured Lending in a research report on Monday, December 8th. They issued a “market perform” rating on the stock. B. Riley Financial raised Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, February 25th. Zacks Research upgraded shares of Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. Wells Fargo & Company dropped their target price on shares of Carlyle Secured Lending from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Citizens Jmp began coverage on shares of Carlyle Secured Lending in a research note on Monday, December 8th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Carlyle Secured Lending has an average rating of “Hold” and an average target price of $13.60.

Carlyle Secured Lending Stock Performance

The firm has a market cap of $773.95 million, a P/E ratio of 10.74 and a beta of 0.70. The stock’s 50 day moving average is $12.08 and its two-hundred day moving average is $12.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). Carlyle Secured Lending had a return on equity of 8.56% and a net margin of 27.38%.The business had revenue of $66.91 million for the quarter, compared to the consensus estimate of $67.26 million. As a group, equities analysts predict that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 annualized dividend and a dividend yield of 14.6%. Carlyle Secured Lending’s dividend payout ratio is presently 156.86%.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of hedge funds have recently made changes to their positions in CGBD. Bright Futures Wealth Management LLC. acquired a new position in Carlyle Secured Lending in the third quarter worth $1,206,000. Cascade Financial Partners LLC acquired a new stake in shares of Carlyle Secured Lending in the second quarter valued at $600,000. Legal & General Group Plc increased its stake in shares of Carlyle Secured Lending by 38.4% in the second quarter. Legal & General Group Plc now owns 459,870 shares of the company’s stock valued at $6,291,000 after buying an additional 127,681 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Carlyle Secured Lending by 58.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 418,493 shares of the company’s stock valued at $5,231,000 after buying an additional 154,355 shares during the last quarter. Finally, Cliffwater LLC bought a new position in shares of Carlyle Secured Lending in the second quarter valued at about $7,505,000. Institutional investors and hedge funds 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.