Kovack Advisors Inc. Lowers Stock Holdings in Carlyle Secured Lending, Inc. (NASDAQ:CGBD)

Kovack Advisors Inc. decreased its position in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,875 shares of the company’s stock after selling 7,306 shares during the period. Kovack Advisors Inc.’s holdings in Carlyle Secured Lending were worth $446,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CGBD. Hager Investment Management Services LLC purchased a new position in shares of Carlyle Secured Lending in the fourth quarter worth about $4,093,000. Edge Capital Group LLC grew its position in Carlyle Secured Lending by 470.2% during the 4th quarter. Edge Capital Group LLC now owns 64,518 shares of the company’s stock worth $1,157,000 after acquiring an additional 53,204 shares during the last quarter. GFS Advisors LLC purchased a new position in Carlyle Secured Lending in the 4th quarter worth approximately $891,000. Franklin Resources Inc. bought a new stake in Carlyle Secured Lending in the third quarter valued at approximately $585,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Carlyle Secured Lending during the third quarter valued at approximately $492,000. Hedge funds and other institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Stock Performance

Carlyle Secured Lending stock opened at $17.77 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $18.05 and a 200-day moving average of $17.41. The firm has a market cap of $905.51 million, a P/E ratio of 9.93 and a beta of 1.57. Carlyle Secured Lending, Inc. has a 1-year low of $15.01 and a 1-year high of $18.74.

Carlyle Secured Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.00%. Carlyle Secured Lending’s dividend payout ratio is currently 98.77%.

Analysts Set New Price Targets

Several brokerages recently commented on CGBD. Bank of America downgraded shares of Carlyle Secured Lending from a “buy” rating to an “underperform” rating and set a $17.00 target price on the stock. in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their price target on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their target price on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th.

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.