Carlyle Secured Lending (NASDAQ:CGBD) Hits New 52-Week High at $17.66

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.66 and last traded at $17.54, with a volume of 29533 shares traded. The stock had previously closed at $17.58.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CGBD. Wells Fargo & Company upped their price target on Carlyle Secured Lending from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Citigroup increased their target price on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th.

Carlyle Secured Lending Price Performance

The business has a fifty day simple moving average of $16.55 and a 200-day simple moving average of $15.55. The stock has a market capitalization of $906.69 million, a P/E ratio of 10.36 and a beta of 1.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.22 and a current ratio of 1.22.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its earnings results on Monday, February 26th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Carlyle Secured Lending had a return on equity of 12.80% and a net margin of 38.19%. The company had revenue of $62.69 million during the quarter, compared to the consensus estimate of $42.86 million. During the same period last year, the business posted $0.48 EPS. Sell-side analysts expect that Carlyle Secured Lending, Inc. will post 2.05 earnings per share for the current fiscal year.

Carlyle Secured Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, June 28th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 10.53%. The ex-dividend date of this dividend is Friday, June 28th. Carlyle Secured Lending’s payout ratio is currently 93.57%.

Institutional Investors Weigh In On Carlyle Secured Lending

Several large investors have recently modified their holdings of CGBD. LSV Asset Management increased its position in Carlyle Secured Lending by 8.6% in the third quarter. LSV Asset Management now owns 1,683,463 shares of the company’s stock worth $24,410,000 after buying an additional 133,376 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Carlyle Secured Lending by 327.2% in the 4th quarter. International Assets Investment Management LLC now owns 271,150 shares of the company’s stock worth $40,560,000 after acquiring an additional 207,685 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Carlyle Secured Lending by 2.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,774 shares of the company’s stock valued at $4,213,000 after acquiring an additional 6,527 shares during the period. Condor Capital Management increased its stake in shares of Carlyle Secured Lending by 7.9% in the first quarter. Condor Capital Management now owns 227,327 shares of the company’s stock worth $3,701,000 after purchasing an additional 16,714 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Carlyle Secured Lending by 9.2% in the third quarter. Advisors Asset Management Inc. now owns 206,779 shares of the company’s stock valued at $2,998,000 after purchasing an additional 17,426 shares in 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.