Carlyle Secured Lending (NASDAQ:CGBD) Trading Down 3.3% – Time to Sell?

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s share price dropped 3.3% during mid-day trading on Tuesday . The stock traded as low as $10.91 and last traded at $10.9210. Approximately 61,444 shares were traded during trading, a decline of 91% from the average daily volume of 651,424 shares. The stock had previously closed at $11.29.

Analyst Ratings Changes

A number of analysts have weighed in on CGBD shares. Citizens Jmp initiated coverage on Carlyle Secured Lending in a research note on Monday, December 8th. They issued a “market perform” rating on the stock. B. Riley Financial raised shares of Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, February 25th. Citigroup assumed coverage on shares of Carlyle Secured Lending in a research report on Monday, December 8th. They set a “market perform” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Carlyle Secured Lending from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Wall Street Zen raised shares of Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Carlyle Secured Lending currently has an average rating of “Hold” and a consensus target price of $13.20.

Carlyle Secured Lending Trading Down 2.7%

The business’s 50 day simple moving average is $11.63 and its 200 day simple moving average is $12.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $776.35 million, a price-to-earnings ratio of 10.74 and a beta of 0.70.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). Carlyle Secured Lending had a net margin of 27.38% and a return on equity of 8.56%. The company had revenue of $66.91 million during the quarter, compared to analyst estimates of $67.26 million. Research analysts anticipate that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 14.6%. Carlyle Secured Lending’s dividend payout ratio is presently 156.86%.

Insider Activity

In other Carlyle Secured Lending news, Director John G. Nestor sold 4,401 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $11.29, for a total transaction of $49,687.29. Following the transaction, the director owned 5,516 shares in the company, valued at approximately $62,275.64. The trade was a 44.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carlyle Secured Lending

Several institutional investors have recently modified their holdings of the company. Rossby Financial LCC acquired a new position in Carlyle Secured Lending during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. lifted its stake in Carlyle Secured Lending by 71.9% in the 2nd 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 in the last quarter. State of Alaska Department of Revenue acquired a new stake in Carlyle Secured Lending during the 3rd quarter valued at $37,000. Kestra Advisory Services LLC purchased a new position in Carlyle Secured Lending during the fourth quarter worth $47,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of 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 valued at $59,000 after acquiring an additional 3,925 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 (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.