Zacks Investment Research lowered shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a buy rating to a hold rating in a report issued on Tuesday.
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. “
A number of other equities research analysts also recently issued reports on the stock. National Securities reissued a neutral rating and issued a $19.00 price target on shares of TPG Specialty Lending in a report on Monday, May 8th. BidaskClub downgraded shares of TPG Specialty Lending from a strong-buy rating to a buy rating in a report on Thursday, July 20th. Finally, JMP Securities increased their price target on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the stock an outperform rating in a report on Monday, August 7th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $20.17.
TPG Specialty Lending (TSLX) traded up 0.33% during trading on Tuesday, reaching $21.33. 350,242 shares of the company were exchanged. TPG Specialty Lending has a one year low of $17.00 and a one year high of $21.62. The firm’s 50 day moving average price is $20.70 and its 200-day moving average price is $20.24.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. TPG Specialty Lending had a net margin of 60.77% and a return on equity of 12.68%. The firm had revenue of $58.82 million for the quarter, compared to the consensus estimate of $49.41 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that TPG Specialty Lending will post $1.91 EPS for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a $0.09 dividend. This represents a dividend yield of 7.38%. This is an increase from TPG Specialty Lending’s previous special dividend of $0.04. The ex-dividend date is Tuesday, August 29th. TPG Specialty Lending’s dividend payout ratio is presently 71.89%.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Muzinich & Co. Inc. boosted its position in TPG Specialty Lending by 87.4% in the first quarter. Muzinich & Co. Inc. now owns 2,115,899 shares of the financial services provider’s stock valued at $43,143,000 after buying an additional 986,689 shares during the period. Clough Capital Partners L P boosted its position in TPG Specialty Lending by 173.8% in the first quarter. Clough Capital Partners L P now owns 483,863 shares of the financial services provider’s stock valued at $9,564,000 after buying an additional 307,163 shares during the period. UBS Group AG boosted its position in TPG Specialty Lending by 17.6% in the first quarter. UBS Group AG now owns 1,410,676 shares of the financial services provider’s stock valued at $28,764,000 after buying an additional 211,139 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in TPG Specialty Lending by 127.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 333,099 shares of the financial services provider’s stock valued at $6,791,000 after buying an additional 186,910 shares during the period. Finally, Greenwich Investment Management Inc. bought a new position in TPG Specialty Lending during the second quarter valued at $2,305,000. Institutional investors own 64.35% of the company’s stock.
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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