Denali Advisors LLC Sells 3,603 Shares of Carlyle Secured Lending, Inc. $CGBD

Denali Advisors LLC lessened its stake in Carlyle Secured Lending, Inc. (NASDAQ:CGBD) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 132,433 shares of the company’s stock after selling 3,603 shares during the period. Denali Advisors LLC’s holdings in Carlyle Secured Lending were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CGBD. Prime Capital Investment Advisors LLC bought a new stake in Carlyle Secured Lending during the 2nd quarter valued at $30,158,000. Kingstone Capital Partners Texas LLC bought a new stake in Carlyle Secured Lending during the 2nd quarter valued at $5,717,000. Ethos Financial Group LLC bought a new stake in Carlyle Secured Lending during the 1st quarter valued at $2,781,000. Doliver Advisors LP bought a new position in shares of Carlyle Secured Lending in the second quarter worth $1,677,000. Finally, Naviter Wealth LLC bought a new position in shares of Carlyle Secured Lending in the second quarter worth $1,277,000. Institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Stock Performance

NASDAQ CGBD opened at $12.56 on Wednesday. The company has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $13.75. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. Carlyle Secured Lending, Inc. has a 12-month low of $11.65 and a 12-month high of $18.64. The firm has a market cap of $640.02 million, a price-to-earnings ratio of 10.47 and a beta of 0.89.

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

Carlyle Secured Lending Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date was Tuesday, September 30th. Carlyle Secured Lending’s dividend payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

CGBD has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of Carlyle Secured Lending from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $13.50 to $12.50 in a report on Wednesday, October 1st. Raymond James Financial upgraded shares of Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Tuesday, October 7th. Wells Fargo & Company upgraded shares of Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $15.00 in a research report on Friday, July 25th. Finally, B. Riley reiterated a “neutral” rating and issued a $14.50 target price (up from $14.00) on shares of Carlyle Secured Lending in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Carlyle Secured Lending presently has a consensus rating of “Hold” and an average price target of $14.83.

Insider Transactions at Carlyle Secured Lending

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

Carlyle Secured Lending 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.