Key Points
- Director John Nestor sold 7,085 shares of Carlyle Secured Lending (CGBD) on Nov. 14 at an average price of $11.87, reducing his stake by 48.55% and generating roughly $84,099 in proceeds while leaving him with 7,508 shares.
- The company announced a $0.40 quarterly dividend (annualized $1.60) payable Jan. 16 with record/ex-div date Dec. 31, implying a 12.6% yield and a dividend payout ratio of about 135.6%.
- Carlyle Secured Lending reported quarterly EPS of $0.38, slightly below estimates with revenue also under expectations, and analysts are mixed on the stock (consensus target ~$14.33) as it trades near $12–13 with a market cap around $647M.
Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) Director John Nestor sold 7,085 shares of the company's stock in a transaction on Friday, November 14th. The stock was sold at an average price of $11.87, for a total value of $84,098.95. Following the transaction, the director directly owned 7,508 shares in the company, valued at approximately $89,119.96. The trade was a 48.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Carlyle Secured Lending Stock Up 1.1%
Carlyle Secured Lending stock opened at $12.69 on Wednesday. Carlyle Secured Lending, Inc. has a 1-year low of $11.55 and a 1-year high of $18.64. The business has a fifty day moving average price of $12.36 and a 200-day moving average price of $13.33. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $646.68 million, a price-to-earnings ratio of 10.75 and a beta of 0.68.
Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Carlyle Secured Lending had a net margin of 30.18% and a return on equity of 9.24%. The business had revenue of $66.51 million during the quarter, compared to analysts' expectations of $69.61 million. Equities research analysts forecast that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current fiscal year.
Carlyle Secured Lending Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 12.6%. Carlyle Secured Lending's dividend payout ratio (DPR) is 135.59%.
Institutional Investors Weigh In On Carlyle Secured Lending
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGBD. Rossby Financial LCC purchased a new position in shares of Carlyle Secured Lending during the 3rd quarter valued at about $25,000. Quarry LP purchased a new position in Carlyle Secured Lending during the first quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. raised its position in 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 acquiring an additional 1,100 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Carlyle Secured Lending in the third quarter valued at approximately $37,000. Finally, Tower Research Capital LLC TRC boosted its position in Carlyle Secured Lending by 1,011.6% in the 2nd 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 in the last quarter. 24.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on CGBD shares. B. Riley cut their price target on shares of Carlyle Secured Lending from $14.50 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 11th. Zacks Research downgraded Carlyle Secured Lending from a "hold" rating to a "strong sell" rating in a research report on Monday, November 10th. Wells Fargo & Company lowered their price target on Carlyle Secured Lending from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on Carlyle Secured Lending from $12.50 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, November 6th. Finally, Raymond James Financial upgraded Carlyle Secured Lending from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.33.
View Our Latest Stock Analysis on Carlyle Secured Lending
About Carlyle Secured Lending
(
Get Free Report)
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.
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