TPG Specialty Lending (NYSE:TSLX) Lowered to “Sell” at Zacks Investment Research
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 analysts have also issued research reports about the company. Wells Fargo & Co upped their price objective on Wingstop from $76.00 to $84.00 and gave the stock an outperform rating in a research report on Monday, May 6th. National Securities reaffirmed a buy rating and set a $5.00 price objective on shares of Aquabounty Technologies in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $21.57.
TPG Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). TPG Specialty Lending had a return on equity of 13.05% and a net margin of 48.29%. The company had revenue of $52.49 million for the quarter, compared to analysts’ expectations of $56.40 million. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts expect that TPG Specialty Lending will post 1.85 EPS for the current year.
The company also recently announced a special dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, May 30th. This represents a dividend yield of 7.74%. TPG Specialty Lending’s payout ratio is currently 69.33%.
In other news, Director Hurley Doddy bought 2,100 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $19.80 per share, for a total transaction of $41,580.00. Following the completion of the purchase, the director now owns 3,900 shares in the company, valued at approximately $77,220. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of TPG Specialty Lending by 16.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,282 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,006 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC grew its stake in shares of TPG Specialty Lending by 21.5% during the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 110,968 shares of the financial services provider’s stock worth $2,224,000 after purchasing an additional 19,612 shares in the last quarter. LGT Capital Partners LTD. grew its stake in shares of TPG Specialty Lending by 7.8% during the first quarter. LGT Capital Partners LTD. now owns 550,000 shares of the financial services provider’s stock worth $11,000,000 after purchasing an additional 40,000 shares in the last quarter. Advisory Alpha LLC acquired a new position in shares of TPG Specialty Lending during the first quarter worth $34,000. Finally, Bank of America Corp DE grew its stake in shares of TPG Specialty Lending by 4.8% during the fourth quarter. Bank of America Corp DE now owns 340,027 shares of the financial services provider’s stock worth $6,151,000 after purchasing an additional 15,515 shares in the last quarter. Hedge funds and other institutional investors own 60.59% of the company’s stock.
About TPG Specialty Lending
TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.
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