TPG Specialty Lending Inc. (TSLX) Rating Lowered to Hold at Zacks Investment Research
TPG Specialty Lending Inc. (NYSE:TSLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “
Other analysts have also issued research reports about the company. TheStreet raised TPG Specialty Lending from a “hold” rating to a “buy” rating in a report on Monday, July 11th. National Securities reissued a “buy” rating and set a $18.00 price target on shares of TPG Specialty Lending in a report on Friday, August 5th. Citigroup Inc. boosted their price target on TPG Specialty Lending from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 12th. JPMorgan Chase & Co. boosted their price target on TPG Specialty Lending from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Friday, August 5th. Finally, JMP Securities raised TPG Specialty Lending from a “market perform” rating to an “outperform” rating and set a $18.50 price target for the company in a report on Friday, August 5th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.50.
TPG Specialty Lending (NYSE:TSLX) opened at 17.85 on Thursday. The stock’s 50 day moving average price is $18.16 and its 200 day moving average price is $17.09. TPG Specialty Lending has a 12 month low of $15.11 and a 12 month high of $18.79.
TPG Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. TPG Specialty Lending had a return on equity of 11.27% and a net margin of 40.42%. The company earned $46.03 million during the quarter, compared to analyst estimates of $45.12 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. TPG Specialty Lending’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that TPG Specialty Lending will post $1.70 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a $0.39 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.56 annualized dividend and a dividend yield of 8.74%. TPG Specialty Lending’s payout ratio is 124.80%.
In other TPG Specialty Lending news, CFO Ian Simmonds acquired 2,150 shares of the stock in a transaction dated Monday, August 15th. The shares were acquired at an average cost of $18.15 per share, for a total transaction of $39,022.50. Following the completion of the transaction, the chief financial officer now directly owns 2,150 shares of the company’s stock, valued at $39,022.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.90% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. ING Groep NV increased its stake in TPG Specialty Lending by 9.4% in the first quarter. ING Groep NV now owns 238,260 shares of the company’s stock worth $3,846,000 after buying an additional 20,526 shares in the last quarter. UBS Group AG increased its stake in TPG Specialty Lending by 12.0% in the first quarter. UBS Group AG now owns 1,036,073 shares of the company’s stock worth $16,712,000 after buying an additional 110,968 shares in the last quarter. Boothbay Fund Management LLC increased its stake in TPG Specialty Lending by 24.3% in the first quarter. Boothbay Fund Management LLC now owns 20,783 shares of the company’s stock worth $335,000 after buying an additional 4,066 shares in the last quarter. Delphi Financial Group Inc. increased its stake in TPG Specialty Lending by 19.7% in the second quarter. Delphi Financial Group Inc. now owns 1,142,719 shares of the company’s stock worth $18,946,000 after buying an additional 188,397 shares in the last quarter. Finally, Strs Ohio increased its stake in TPG Specialty Lending by 2.5% in the second quarter. Strs Ohio now owns 4,162,136 shares of the company’s stock worth $69,133,000 after buying an additional 101,452 shares in the last quarter. Institutional investors own 59.54% of the company’s stock.
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.
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