Carlyle Secured Lending, Inc. (NASDAQ:CGBD – Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.48 and last traded at $10.5990, with a volume of 56237 shares. The stock had previously closed at $10.79.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. B. Riley Financial reissued a “buy” rating on shares of Carlyle Secured Lending in a research report on Tuesday, May 12th. JPMorgan Chase & Co. cut their target price on Carlyle Secured Lending from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Finally, Wells Fargo & Company reduced their target price on Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.
Check Out Our Latest Report on CGBD
Carlyle Secured Lending Trading Down 0.3%
Carlyle Secured Lending (NASDAQ:CGBD – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Carlyle Secured Lending had a return on equity of 8.99% and a net margin of 19.52%.The business had revenue of $64.08 million for the quarter, compared to analysts’ expectations of $65.78 million. Sell-side analysts expect that Carlyle Secured Lending, Inc. will post 1.36 earnings per share for the current year.
Carlyle Secured Lending Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.2%. The ex-dividend date is Tuesday, June 30th. Carlyle Secured Lending’s payout ratio is 197.18%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC grew its position in shares of 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 acquiring an additional 699,586 shares during the period. North Ground Capital raised its holdings in Carlyle Secured Lending by 91.6% in the 4th quarter. North Ground Capital now owns 912,220 shares of the company’s stock worth $11,394,000 after purchasing an additional 436,086 shares during the period. Invesco Ltd. raised its holdings in Carlyle Secured Lending by 15.6% in the 3rd quarter. Invesco Ltd. now owns 901,237 shares of the company’s stock worth $11,265,000 after purchasing an additional 121,651 shares during the period. UBS Group AG lifted its position in Carlyle Secured Lending by 35.7% during the fourth quarter. UBS Group AG now owns 862,260 shares of the company’s stock valued at $10,770,000 after purchasing an additional 226,776 shares in the last quarter. Finally, Muzinich & Co. Inc. lifted its position in Carlyle Secured Lending by 47.3% during the fourth quarter. Muzinich & Co. Inc. now owns 736,442 shares of the company’s stock valued at $9,198,000 after purchasing an additional 236,524 shares in the last quarter. 24.51% of the stock is currently owned by institutional investors.
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.
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