JMP Securities Reiterates Buy Rating for TPG Specialty Lending Inc. (TSLX)
TPG Specialty Lending Inc. (NYSE:TSLX)‘s stock had its “buy” rating reiterated by equities research analysts at JMP Securities in a research report issued on Wednesday.
A number of other research analysts have also issued reports on TSLX. Zacks Investment Research upgraded shares of TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, July 12th. National Securities reiterated a “buy” rating and issued a $18.00 target price on shares of TPG Specialty Lending in a research note on Friday, August 5th. JPMorgan Chase & Co. raised their target price on shares of TPG Specialty Lending from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Friday, August 5th. Citigroup Inc. increased their price target on shares of TPG Specialty Lending from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Finally, TheStreet downgraded shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. TPG Specialty Lending has an average rating of “Buy” and a consensus price target of $18.57.
TPG Specialty Lending (NYSE:TSLX) opened at 17.98 on Wednesday. TPG Specialty Lending has a 1-year low of $15.11 and a 1-year high of $18.79. The firm’s 50-day moving average is $17.88 and its 200-day moving average is $17.35.
TPG Specialty Lending (NYSE:TSLX) last posted its earnings results on Monday, November 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. TPG Specialty Lending had a net margin of 53.66% and a return on equity of 11.50%. The business had revenue of $53.92 million for the quarter, compared to analyst estimates of $46.54 million. During the same period last year, the business posted $0.48 EPS. TPG Specialty Lending’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that TPG Specialty Lending will post $1.70 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Saturday, December 31st will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date is Wednesday, December 28th. TPG Specialty Lending’s payout ratio is 91.77%.
In other TPG Specialty Lending news, CFO Ian Simmonds acquired 2,150 shares of TPG Specialty Lending stock in a transaction dated Monday, August 15th. The stock was bought at an average cost of $18.15 per share, with a total value of $39,022.50. Following the acquisition, the chief financial officer now owns 2,150 shares of the company’s stock, valued at $39,022.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company’s stock.
Several large investors have recently made changes to their positions in the company. GAM Holding AG purchased a new stake in shares of TPG Specialty Lending during the third quarter worth about $114,000. GSA Capital Partners LLP purchased a new stake in shares of TPG Specialty Lending during the second quarter worth about $185,000. Nomura Holdings Inc. purchased a new stake in shares of TPG Specialty Lending during the second quarter worth about $244,000. PineBridge Investments L.P. boosted 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 during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of TPG Specialty Lending by 1,776.0% in the third quarter. Tower Research Capital LLC TRC now owns 16,884 shares of the company’s stock worth $306,000 after buying an additional 15,984 shares during the period. Institutional investors and hedge funds own 59.35% of the company’s stock.
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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