BidaskClub Lowers TPG Specialty Lending, Inc. (TSLX) to Buy
BidaskClub cut shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a strong-buy rating to a buy rating in a research note released on Thursday.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised TPG Specialty Lending from a hold rating to a buy rating and set a $23.00 target price on the stock in a report on Wednesday, July 5th. SunTrust Banks, Inc. reissued a buy rating and issued a $22.00 target price (up from $21.00) on shares of TPG Specialty Lending in a report on Wednesday, August 9th. National Securities reissued a neutral rating and issued a $19.00 target price on shares of TPG Specialty Lending in a report on Monday, May 8th. Finally, JMP Securities boosted their target price on TPG Specialty Lending from $21.50 to $22.00 and gave the stock an outperform rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $20.80.
Shares of TPG Specialty Lending (NYSE TSLX) opened at 20.84 on Thursday. TPG Specialty Lending has a 52-week low of $17.00 and a 52-week high of $21.74. The company has a 50-day moving average price of $20.94 and a 200-day moving average price of $20.50.
TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $49.41 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Equities analysts anticipate that TPG Specialty Lending will post $1.91 EPS for the current year.
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The business also recently announced a special dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a $0.09 dividend. This represents a 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 payout ratio is 71.89%.
A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd boosted its holdings in TPG Specialty Lending by 329.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 49,030 shares of the financial services provider’s stock worth $1,002,000 after acquiring an additional 37,611 shares in the last quarter. National Asset Management Inc. boosted its holdings in TPG Specialty Lending by 45.1% in the second quarter. National Asset Management Inc. now owns 29,303 shares of the financial services provider’s stock worth $600,000 after acquiring an additional 9,114 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in TPG Specialty Lending by 9.5% in the second quarter. Nomura Holdings Inc. now owns 231,897 shares of the financial services provider’s stock worth $4,748,000 after acquiring an additional 20,122 shares in the last quarter. Caxton Associates LP boosted its holdings in TPG Specialty Lending by 9.1% in the second quarter. Caxton Associates LP now owns 35,091 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 2,922 shares in the last quarter. Finally, Shelton Capital Management boosted its holdings in TPG Specialty Lending by 100.0% in the second quarter. Shelton Capital Management now owns 50,000 shares of the financial services provider’s stock worth $1,023,000 after acquiring an additional 25,000 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.
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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