Zacks Investment Research upgraded shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $24.00 target price on the financial services provider’s stock.

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. “

Other research analysts also recently issued reports about the company. BidaskClub downgraded TPG Specialty Lending from a strong-buy rating to a buy rating in a research note on Thursday, August 31st. SunTrust Banks, Inc. restated a buy rating and issued a $22.00 price target (up from $21.00) on shares of TPG Specialty Lending in a research note on Wednesday, August 9th. National Securities restated a neutral rating and issued a $19.00 price target on shares of TPG Specialty Lending in a research note on Monday, August 7th. 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 research note on Monday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $21.00.

TPG Specialty Lending (NYSE TSLX) opened at 20.82 on Thursday. TPG Specialty Lending has a 52-week low of $17.40 and a 52-week high of $21.74. The stock has a 50 day moving average of $20.61 and a 200-day moving average of $20.64.

TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.11. TPG Specialty Lending had a net margin of 60.77% and a return on equity of 12.68%. The firm had revenue of $58.82 million during the quarter, compared to analyst estimates of $49.41 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, analysts forecast that TPG Specialty Lending will post $1.91 EPS for the current fiscal year.

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The firm also recently declared a special dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were paid 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 of this dividend was Tuesday, August 29th. TPG Specialty Lending’s dividend payout ratio is presently 71.89%.

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd boosted its stake in TPG Specialty Lending by 329.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 49,030 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 37,611 shares during the period. National Asset Management Inc. boosted its stake in TPG Specialty Lending by 45.1% in the 2nd quarter. National Asset Management Inc. now owns 29,303 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 9,114 shares during the period. Nomura Holdings Inc. boosted its stake in TPG Specialty Lending by 9.5% in the 2nd quarter. Nomura Holdings Inc. now owns 231,897 shares of the financial services provider’s stock worth $4,748,000 after purchasing an additional 20,122 shares during the period. Caxton Associates LP boosted its stake in TPG Specialty Lending by 9.1% in the 2nd quarter. Caxton Associates LP now owns 35,091 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 2,922 shares during the period. Finally, Shelton Capital Management boosted its stake in TPG Specialty Lending by 100.0% in the 2nd quarter. Shelton Capital Management now owns 50,000 shares of the financial services provider’s stock worth $1,023,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds own 62.65% of the company’s stock.

TPG Specialty Lending Company Profile

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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