Closed End Fund Advisors Inc. Purchases New Stake in Carlyle Secured Lending, Inc. $CGBD

Closed End Fund Advisors Inc. purchased a new stake in Carlyle Secured Lending, Inc. (NASDAQ:CGBD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 255,435 shares of the company’s stock, valued at approximately $3,190,000. Carlyle Secured Lending makes up 1.9% of Closed End Fund Advisors Inc.’s holdings, making the stock its 13th biggest holding. Closed End Fund Advisors Inc. owned 0.50% of Carlyle Secured Lending as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Transcend Capital Advisors LLC boosted its stake in shares of Carlyle Secured Lending by 2.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 29,451 shares of the company’s stock valued at $368,000 after buying an additional 805 shares in the last quarter. Advisory Research Inc. raised its holdings in Carlyle Secured Lending by 9.2% during the third quarter. Advisory Research Inc. now owns 11,340 shares of the company’s stock worth $142,000 after purchasing an additional 953 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings 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 worth $36,000 after purchasing an additional 1,100 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Carlyle Secured Lending by 3.4% during the fourth quarter. Verdence Capital Advisors LLC now owns 45,753 shares of the company’s stock worth $571,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Rossby Financial LCC acquired a new position in Carlyle Secured Lending during the third quarter worth $25,000. 24.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CGBD. Wells Fargo & Company reduced their price objective on Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price objective on Carlyle Secured Lending from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Carlyle Secured Lending in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.50.

Carlyle Secured Lending Stock Performance

Shares of CGBD stock opened at $10.64 on Friday. The stock has a fifty day moving average price of $11.20 and a 200 day moving average price of $11.80. The stock has a market cap of $739.48 million, a PE ratio of 14.99 and a beta of 0.62. Carlyle Secured Lending, Inc. has a 1 year low of $10.50 and a 1 year high of $14.49. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.72 and a current ratio of 1.72.

Carlyle Secured Lending (NASDAQ:CGBD) last released its quarterly earnings results on Monday, May 11th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Carlyle Secured Lending had a return on equity of 8.99% and a net margin of 19.52%.The company had revenue of $64.08 million during the quarter, compared to analysts’ expectations of $65.78 million. Sell-side analysts forecast that Carlyle Secured Lending, Inc. will post 1.36 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 Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Carlyle Secured Lending’s payout ratio is 225.35%.

Carlyle Secured Lending Profile

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.