Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Receives $15.10 Average Target Price from Brokerages

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) has earned an average rating of “Reduce” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $15.10.

A number of analysts recently weighed in on the company. B. Riley restated a “neutral” rating and issued a $14.50 target price (up previously from $14.00) on shares of Carlyle Secured Lending in a research report on Monday, August 11th. Raymond James Financial assumed coverage on Carlyle Secured Lending in a research report on Thursday, July 17th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company raised Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $15.00 in a research note on Friday, July 25th.

Carlyle Secured Lending Stock Performance

Shares of CGBD opened at $13.79 on Friday. The company has a market cap of $702.74 million, a PE ratio of 11.49 and a beta of 0.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $13.86 and a 200-day moving average price of $14.64. Carlyle Secured Lending has a 12-month low of $13.12 and a 12-month high of $18.64.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $67.28 million during the quarter, compared to the consensus estimate of $67.53 million. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%. As a group, equities analysts forecast that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Carlyle Secured Lending’s dividend payout ratio (DPR) is 133.33%.

Insiders Place Their Bets

In other news, Director John G. Nestor sold 13,238 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $13.49, for a total transaction of $178,580.62. Following the transaction, the director directly owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. The trade was a 47.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas M. Hennigan bought 7,285 shares of Carlyle Secured Lending stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $100,168.75. Following the completion of the purchase, the chief financial officer directly owned 88,495 shares of the company’s stock, valued at approximately $1,216,806.25. This trade represents a 8.97% increase in their position. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carlyle Secured Lending

Several hedge funds have recently made changes to their positions in CGBD. Quarry LP purchased a new position in shares of Carlyle Secured Lending during the first quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Carlyle Secured Lending by 71.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the period. Tower Research Capital LLC TRC grew its stake in Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock worth $59,000 after purchasing an additional 3,925 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Carlyle Secured Lending in the second quarter worth $97,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Carlyle Secured Lending in the second quarter worth $145,000. 24.51% of the stock is owned by hedge funds and other 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.