TPG Specialty Lending Inc. (TSLX) Cut to “Hold” at TheStreet
TPG Specialty Lending Inc. (NYSE:TSLX) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other equities research analysts have also recently weighed in on TSLX. Bank of America Corp. restated a “buy” rating on shares of TPG Specialty Lending in a research report on Monday, June 6th. Zacks Investment Research cut shares of TPG Specialty Lending from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. JMP Securities upgraded shares of TPG Specialty Lending from a “market perform” rating to an “outperform” rating and set a $18.50 price target on the stock in a research report on Friday, August 5th. National Securities restated a “buy” rating and issued a $18.00 price target on shares of TPG Specialty Lending in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. boosted 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 report on Friday, August 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. TPG Specialty Lending currently has an average rating of “Buy” and a consensus price target of $18.50.
TPG Specialty Lending (NYSE:TSLX) remained flat at $18.15 during midday trading on Tuesday. The stock had a trading volume of 93,067 shares. TPG Specialty Lending has a 52 week low of $15.11 and a 52 week high of $18.79. The stock’s 50-day moving average price is $18.14 and its 200-day moving average price is $16.94.
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TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. The firm had revenue of $46.03 million for the quarter, compared to analysts’ expectations of $45.12 million. TPG Specialty Lending had a net margin of 40.42% and a return on equity of 11.27%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Equities research analysts expect that TPG Specialty Lending will post $1.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date is Wednesday, September 28th. TPG Specialty Lending’s dividend payout ratio (DPR) is 124.80%.
In other news, CFO Ian Simmonds acquired 2,150 shares of the business’s stock in a transaction on Monday, August 15th. The shares were acquired at an average price 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 approximately $39,022.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of TPG Specialty Lending during the second quarter worth about $185,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of TPG Specialty Lending during the first quarter worth about $187,000. LPL Financial LLC raised its stake in shares of TPG Specialty Lending by 4.0% in the first quarter. LPL Financial LLC now owns 12,528 shares of the company’s stock worth $202,000 after buying an additional 486 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of TPG Specialty Lending during the second quarter worth about $244,000. Finally, PineBridge Investments L.P. raised its stake in shares of TPG Specialty Lending by 188.7% in the second quarter. PineBridge Investments L.P. now owns 15,558 shares of the company’s stock worth $258,000 after buying an additional 10,169 shares in the last quarter. 59.54% of the stock is owned by hedge funds and other institutional investors.
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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