Zacks Investment Research Lowers TPG Specialty Lending, Inc. (TSLX) to Hold
TPG Specialty Lending, Inc. (NYSE:TSLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other analysts also recently weighed in on TSLX. BidaskClub upgraded TPG Specialty Lending from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $22.00 price objective (up previously from $21.00) on shares of TPG Specialty Lending in a research report on Wednesday, August 9th. National Securities reiterated a “neutral” rating and issued a $19.00 price objective on shares of TPG Specialty Lending in a research report on Monday, August 7th. Finally, JMP Securities boosted their price objective on TPG Specialty Lending from $21.50 to $22.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.00.
TPG Specialty Lending (TSLX) traded up 0.19% on Wednesday, hitting $20.97. The stock had a trading volume of 138,718 shares. TPG Specialty Lending has a 1-year low of $17.40 and a 1-year high of $21.74. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 8.42 and a beta of 0.71. The company has a 50-day moving average price of $20.61 and a 200-day moving average price of $20.66.
TPG Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.11. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. The company had revenue of $58.82 million during the quarter, compared to the consensus estimate of $49.41 million. During the same quarter in the previous year, the company posted $0.43 EPS. TPG Specialty Lending’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities analysts predict that TPG Specialty Lending will post $1.91 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of TSLX. Whalerock Point Partners LLC purchased a new stake in TPG Specialty Lending in the second quarter worth $636,000. M&T Bank Corp purchased a new stake in TPG Specialty Lending in the first quarter worth $280,000. Bank of America Corp DE grew its stake in TPG Specialty Lending by 4.5% in the first quarter. Bank of America Corp DE now owns 218,199 shares of the financial services provider’s stock worth $4,449,000 after purchasing an additional 9,369 shares during the period. Capital Fund Management S.A. purchased a new stake in TPG Specialty Lending in the second quarter worth $1,036,000. Finally, LSV Asset Management grew its stake in TPG Specialty Lending by 198.8% in the second quarter. LSV Asset Management now owns 124,600 shares of the financial services provider’s stock worth $2,548,000 after purchasing an additional 82,900 shares during the period. 62.65% of the stock is currently owned by hedge funds and other institutional investors.
About TPG Specialty Lending
TPG Specialty Lending, Inc 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 originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
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