Carlyle Secured Lending (NASDAQ:CGBD) Sets New 52-Week Low - Here's Why

Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $14.85 and last traded at $15.11, with a volume of 293645 shares trading hands. The stock had previously closed at $15.97.

Analyst Upgrades and Downgrades

CGBD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th. Finally, Bank of America lowered shares of Carlyle Secured Lending from a "buy" rating to an "underperform" rating and set a $17.00 price objective for the company. in a research report on Monday, February 10th.

Carlyle Secured Lending Price Performance

The company has a 50 day simple moving average of $16.94 and a 200-day simple moving average of $17.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. The stock has a market cap of $749.58 million, a price-to-earnings ratio of 8.22 and a beta of 1.22.

Carlyle Secured Lending Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 24th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 10.88%. The ex-dividend date of this dividend is Monday, March 24th. Carlyle Secured Lending's dividend payout ratio (DPR) is presently 98.77%.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGBD. Aquatic Capital Management LLC boosted its stake in shares of Carlyle Secured Lending by 541.8% during the 4th quarter. Aquatic Capital Management LLC now owns 2,567 shares of the company's stock worth $46,000 after acquiring an additional 2,167 shares in the last quarter. Canton Hathaway LLC bought a new stake in Carlyle Secured Lending in the 4th quarter valued at $47,000. Lido Advisors LLC lifted its stake in Carlyle Secured Lending by 12.3% during the fourth quarter. Lido Advisors LLC now owns 11,416 shares of the company's stock worth $210,000 after purchasing an additional 1,247 shares during the period. EMC Capital Management boosted its stake in Carlyle Secured Lending by 56.9% in the 4th quarter. EMC Capital Management now owns 13,021 shares of the company's stock valued at $233,000 after buying an additional 4,722 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Carlyle Secured Lending by 30.9% during the 3rd quarter. Jane Street Group LLC now owns 13,775 shares of the company's stock worth $234,000 after purchasing an additional 3,249 shares in the last quarter. Institutional investors and hedge funds own 24.51% of the company's stock.

Carlyle Secured Lending Company 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.