Short Interest in Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Drops By 9.6%

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 312,500 shares, a decline of 9.6% from the October 15th total of 345,800 shares. Based on an average daily volume of 187,400 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Carlyle Secured Lending from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered Carlyle Secured Lending from a “neutral” rating to an “underweight” rating and set a $17.00 target price for the company. in a research note on Monday, July 29th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Kimelman & Baird LLC bought a new stake in Carlyle Secured Lending in the second quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at approximately $52,000. nVerses Capital LLC bought a new position in shares of Carlyle Secured Lending in the 2nd quarter valued at about $53,000. Kingsview Wealth Management LLC acquired a new position in Carlyle Secured Lending during the first quarter worth approximately $171,000. Finally, Magnetar Financial LLC acquired a new stake in Carlyle Secured Lending during the 2nd quarter valued at $189,000. 24.51% of the stock is currently owned by institutional investors.

Carlyle Secured Lending Price Performance

NASDAQ:CGBD traded down $0.08 during trading hours on Tuesday, reaching $16.29. 10,234 shares of the company’s stock were exchanged, compared to its average volume of 208,710. 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 company has a market capitalization of $829.32 million, a P/E ratio of 9.15 and a beta of 1.59. The business’s 50-day simple moving average is $17.08 and its two-hundred day simple moving average is $17.36. Carlyle Secured Lending has a 12 month low of $14.65 and a 12 month high of $18.74.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Carlyle Secured Lending had a net margin of 40.69% and a return on equity of 12.60%. The company had revenue of $55.97 million during the quarter, compared to the consensus estimate of $39.92 million. During the same period in the previous year, the firm posted $0.52 earnings per share. Sell-side analysts expect that Carlyle Secured Lending will post 1.99 EPS for the current fiscal year.

Carlyle Secured Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 11.05%. The ex-dividend date is Tuesday, December 31st. Carlyle Secured Lending’s payout ratio is 89.39%.

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.