TheStreet Downgrades TPG Specialty Lending Inc. (TSLX) to Hold
TPG Specialty Lending Inc. (NYSE:TSLX) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other analysts have also commented on TSLX. Zacks Investment Research upgraded shares of TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Saturday, August 6th. Bank of America Corp. reiterated a “buy” rating on shares of TPG Specialty Lending in a research note on Monday, June 6th. Citigroup Inc. lifted their price target on shares of TPG Specialty Lending from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of TPG Specialty Lending from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Finally, JMP Securities upgraded shares of TPG Specialty Lending from a “market perform” rating to an “outperform” rating and set a $18.50 price target for the company in a research note on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $18.50.
Shares of TPG Specialty Lending (NYSE:TSLX) opened at 18.15 on Tuesday. TPG Specialty Lending has a 1-year low of $15.11 and a 1-year high of $18.79. The firm has a 50-day moving average of $18.14 and a 200 day moving average of $16.94.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. TPG Specialty Lending had a net margin of 40.42% and a return on equity of 11.27%. The firm earned $46.03 million during the quarter, compared to analyst estimates of $45.12 million. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts expect that TPG Specialty Lending will post $1.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 8.60%. The ex-dividend date of this dividend is Wednesday, September 28th. TPG Specialty Lending’s dividend payout ratio is currently 124.80%.
In other news, CFO Ian Simmonds purchased 2,150 shares of the stock in a transaction on Monday, August 15th. The shares were acquired at an average price of $18.15 per share, with a total value of $39,022.50. Following the completion of the acquisition, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $39,022.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new position in TPG Specialty Lending during the second quarter valued at approximately $185,000. Ladenburg Thalmann Financial Services Inc. bought a new position in TPG Specialty Lending during the first quarter valued at approximately $187,000. LPL Financial LLC increased its position in TPG Specialty Lending by 4.0% in the first quarter. LPL Financial LLC now owns 12,528 shares of the company’s stock valued at $202,000 after buying an additional 486 shares during the period. Nomura Holdings Inc. bought a new position in TPG Specialty Lending during the second quarter valued at approximately $244,000. Finally, PineBridge Investments L.P. increased its position in TPG Specialty Lending by 188.7% in the second quarter. PineBridge Investments L.P. now owns 15,558 shares of the company’s stock valued at $258,000 after buying an additional 10,169 shares during the period. 59.54% of the stock is currently owned by institutional investors and hedge funds.
About TPG Specialty Lending
TPG Specialty Lending, Inc (TSL) is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States domiciled middle-market companies through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine loans and investments in corporate bonds and equity securities.
Receive News & Ratings for TPG Specialty Lending Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPG Specialty Lending Inc. and related companies with MarketBeat.com's FREE daily email newsletter.