TheStreet Upgrades TPG Specialty Lending Inc (TSLX) to “Buy”
TPG Specialty Lending Inc (NYSE:TSLX) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
TSLX has been the subject of a number of other research reports. Zacks Investment Research raised TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Saturday, August 6th. National Securities reissued a “buy” rating and issued a $18.00 target price on shares of TPG Specialty Lending in a report on Friday, August 5th. JMP Securities reissued a “buy” rating on shares of TPG Specialty Lending in a report on Wednesday, November 9th. JPMorgan Chase & Co. raised their target price on TPG Specialty Lending from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Friday, August 5th. Finally, Barclays PLC reissued a “hold” rating and issued a $18.00 target price on shares of TPG Specialty Lending in a report on Wednesday, November 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $18.57.
Shares of TPG Specialty Lending (NYSE:TSLX) traded up 0.71% during trading on Monday, hitting $18.42. 131,006 shares of the company’s stock were exchanged. TPG Specialty Lending has a 12-month low of $15.11 and a 12-month high of $18.79. The company has a market cap of $1.10 billion, a P/E ratio of 14.20 and a beta of 0.70. The company has a 50-day moving average of $17.91 and a 200-day moving average of $17.48.
TPG Specialty Lending (NYSE:TSLX) last released its earnings results on Monday, November 7th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. TPG Specialty Lending had a return on equity of 11.50% and a net margin of 53.66%. The company earned $53.92 million during the quarter, compared to the consensus estimate of $46.54 million. During the same quarter last year, the company earned $0.48 earnings per share. TPG Specialty Lending’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts expect that TPG Specialty Lending will post $1.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Saturday, December 31st will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 8.47%. The ex-dividend date of this dividend is Wednesday, December 28th. TPG Specialty Lending’s dividend payout ratio (DPR) is presently 91.77%.
In other news, VP David Stiepleman purchased 5,535 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was acquired at an average price of $17.99 per share, with a total value of $99,574.65. Following the purchase, the vice president now directly owns 5,535 shares of the company’s stock, valued at approximately $99,574.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Fund Advisors LLC increased its position in TPG Specialty Lending by 0.7% in the third quarter. Nuveen Fund Advisors LLC now owns 82,452 shares of the company’s stock valued at $1,493,000 after buying an additional 574 shares during the period. Citigroup Inc. increased its position in TPG Specialty Lending by 4.4% in the second quarter. Citigroup Inc. now owns 30,213 shares of the company’s stock valued at $502,000 after buying an additional 1,261 shares during the period. Two Sigma Advisers LP increased its position in TPG Specialty Lending by 3.7% in the third quarter. Two Sigma Advisers LP now owns 86,000 shares of the company’s stock valued at $1,557,000 after buying an additional 3,088 shares during the period. Boothbay Fund Management LLC increased its position in TPG Specialty Lending by 24.3% in the first quarter. Boothbay Fund Management LLC now owns 20,783 shares of the company’s stock valued at $335,000 after buying an additional 4,066 shares during the period. Finally, Geneva Advisors LLC increased its position in TPG Specialty Lending by 13.2% in the third quarter. Geneva Advisors LLC now owns 47,564 shares of the company’s stock valued at $861,000 after buying an additional 5,528 shares during the period. 59.78% of the stock is owned by institutional investors and hedge funds.
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TPG Specialty Lending Company Profile
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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