Carlyle Secured Lending (NASDAQ:CGBD) Shares Down 7.3% – Here’s Why

Shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD) dropped 7.3% during trading on Monday . The company traded as low as $13.12 and last traded at $13.69. Approximately 430,850 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 217,940 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

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

Carlyle Secured Lending Stock Performance

The stock’s 50 day moving average is $17.29 and its 200 day moving average is $17.39. 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 firm has a market cap of $708.81 million, a price-to-earnings ratio of 7.77 and a beta of 1.22.

Carlyle Secured Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.50%. Carlyle Secured Lending’s dividend payout ratio (DPR) is currently 98.77%.

Institutional Trading of Carlyle Secured Lending

Several institutional investors have recently added to or reduced their stakes in CGBD. AdvisorNet Financial Inc increased its position in Carlyle Secured Lending by 81,343.8% during the 1st quarter. AdvisorNet Financial Inc now owns 26,062 shares of the company’s stock worth $422,000 after buying an additional 26,030 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Carlyle Secured Lending during the fourth quarter worth about $2,340,000. United Advisor Group LLC raised its stake in Carlyle Secured Lending by 58.4% in the 4th quarter. United Advisor Group LLC now owns 23,919 shares of the company’s stock worth $429,000 after purchasing an additional 8,814 shares in the last quarter. Caxton Associates LP bought a new stake in Carlyle Secured Lending in the 4th quarter valued at about $362,000. Finally, Bank of America Corp DE grew its position in shares of Carlyle Secured Lending by 3.8% during the 4th quarter. Bank of America Corp DE now owns 1,192,606 shares of the company’s stock worth $21,383,000 after purchasing an additional 44,033 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 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.