Zacks Investment Research Downgrades 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 research note 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. “
TSLX has been the subject of a number of other research reports. National Securities restated a “neutral” rating and issued a $19.00 price target on shares of TPG Specialty Lending in a report on Monday, May 8th. BidaskClub upgraded TPG Specialty Lending from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, JMP Securities upped their price target on TPG Specialty Lending from $21.50 to $22.00 and gave the stock an “outperform” rating in a report on Monday. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. TPG Specialty Lending presently has a consensus rating of “Buy” and a consensus target price of $19.80.
TPG Specialty Lending (TSLX) traded up 1.51% on Tuesday, hitting $21.51. 74,237 shares of the stock traded hands. The firm’s 50-day moving average price is $20.53 and its 200-day moving average price is $20.14. TPG Specialty Lending has a 12-month low of $17.00 and a 12-month high of $21.57.
TPG Specialty Lending (NYSE:TSLX) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.11. The firm had revenue of $58.82 million during the quarter, compared to the consensus estimate of $49.41 million. TPG Specialty Lending had a net margin of 60.77% and a return on equity of 12.68%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. On average, equities analysts expect that TPG Specialty Lending will post $1.88 earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in TSLX. Janney Montgomery Scott LLC boosted its position in TPG Specialty Lending by 14.5% in the first quarter. Janney Montgomery Scott LLC now owns 63,522 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 8,024 shares in the last quarter. M&T Bank Corp bought a new position in TPG Specialty Lending during the first quarter worth $280,000. 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 worth $6,791,000 after buying an additional 186,910 shares in the last quarter. Mckinley Capital Management LLC Delaware boosted its position in TPG Specialty Lending by 4.6% in the first quarter. Mckinley Capital Management LLC Delaware now owns 182,119 shares of the financial services provider’s stock worth $3,713,000 after buying an additional 8,022 shares in the last quarter. Finally, Allen Investment Management LLC boosted its position in TPG Specialty Lending by 62.5% in the first quarter. Allen Investment Management LLC now owns 48,924 shares of the financial services provider’s stock worth $998,000 after buying an additional 18,825 shares in the last quarter. Hedge funds and other 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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