Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Sees Significant Drop in Short-Term Interest

Carlyle Secured Lending, Inc. (NASDAQ: CGBD – Get a rating) benefited from a sharp fall in short-term interest rates in July. As of July 31, there was selling interest totaling 294,700 shares, down 9.1% from the July 15 total of 324,200 shares. Based on an average daily trading volume of 250,300 shares, the day-to-cover ratio is currently 1.2 days. Approximately 0.6% of the company’s shares are sold short.

Analysts set new price targets

Separately, Wells Fargo & Company raised its price target on Carlyle Secured Lending shares from $13.00 to $13.50 and gave the company an ‘equal weight’ rating in a Thursday research report. August 11.

Institutional entries and exits

A number of hedge funds have recently changed their CGBD holdings. Point72 Hong Kong Ltd bought a new stake in Carlyle Secured Lending during the second quarter for a value of approximately $32,000. Allworth Financial LP purchased a new equity stake in Carlyle Secured Lending during Q2 for approximately $32,000. Lazard Asset Management LLC acquired a new equity stake in Carlyle Secured Lending during Q2 worth approximately $38,000. Welch & Forbes LLC bought a new position in Carlyle Secured Lending in the first quarter worth about $174,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Carlyle Secured Lending during the second quarter worth approximately $157,000. Institutional investors hold 23.19% of the company’s shares.

Carlyle Secured Loan Price Performance

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Shares of CGBD traded up $0.03 during Tuesday’s trading, hitting $14.39. The company had a trading volume of 114,939 shares, compared to an average volume of 248,500. The company has a market capitalization of $746.18 million, a P/E ratio of 7.27 and a beta of 1.67. . Carlyle Secured Lending has a one-year minimum of $12.14 and a one-year maximum of $14.96. The company has a debt ratio of 1.23, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day moving average price is $13.33 and its 200-day moving average price is $13.94.

Carlyle secured loans increase dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 30 will receive a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 11.12%. This is an increase from Carlyle Secured Lending’s previous quarterly dividend of $0.32. The ex-date of this dividend is Thursday, September 29. Carlyle Secured Lending’s dividend payout ratio is currently 64.65%.

Carlyle Secured Loans Company Profile

(Get a rating)

TCG BDC, Inc is a business development company specializing in senior loans, senior secured loans, second lien unsecured loans, mezzanine debt and equity investments. It specializes in direct investment. It specializes in the middle market. It targets healthcare and pharmaceuticals, aerospace and defense, high-tech industries, business services, software, food beverages and tobacco, hospitality and leisure, banking, insurance and the real estate sector.

See also

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