TPG Specialty Lending (TSLX) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of TPG Specialty Lending (NYSE:TSLX) from a hold rating to a strong-buy rating in a research report report published on Tuesday. They currently have $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 equities research analysts have also recently issued research reports about the company. TheStreet upgraded TPG Specialty Lending from a c+ rating to a b rating in a research note on Tuesday, July 31st. Keefe, Bruyette & Woods set a $22.00 price objective on TPG Specialty Lending and gave the company a buy rating in a research note on Thursday, August 2nd. National Securities reiterated a buy rating and issued a $21.00 price objective on shares of TPG Specialty Lending in a research note on Monday, August 6th. ValuEngine upgraded TPG Specialty Lending from a sell rating to a hold rating in a research note on Friday, September 14th. Finally, SunTrust Banks reiterated a buy rating and issued a $22.00 price objective on shares of TPG Specialty Lending in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $21.43.
TPG Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.09. TPG Specialty Lending had a return on equity of 12.40% and a net margin of 53.60%. The company had revenue of $66.40 million during the quarter, compared to analysts’ expectations of $58.63 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. sell-side analysts anticipate that TPG Specialty Lending will post 2.02 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a yield of 7.9%. This is a boost from TPG Specialty Lending’s previous special dividend of $0.06. TPG Specialty Lending’s payout ratio is currently 78.00%.
In related news, Director Richard A. Higginbotham purchased 2,000 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was acquired at an average price of $19.73 per share, for a total transaction of $39,460.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $394,600. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.50% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in TSLX. FMR LLC raised its stake in shares of TPG Specialty Lending by 513.5% during the second quarter. FMR LLC now owns 2,341,317 shares of the financial services provider’s stock worth $42,003,000 after purchasing an additional 1,959,686 shares during the last quarter. LGT Capital Partners LTD. purchased a new stake in shares of TPG Specialty Lending during the second quarter worth approximately $7,233,000. The Manufacturers Life Insurance Company raised its stake in shares of TPG Specialty Lending by 13,938.6% during the first quarter. The Manufacturers Life Insurance Company now owns 263,925 shares of the financial services provider’s stock worth $4,714,000 after purchasing an additional 262,045 shares during the last quarter. Dimension Capital Management LLC raised its stake in shares of TPG Specialty Lending by 41.6% during the first quarter. Dimension Capital Management LLC now owns 480,377 shares of the financial services provider’s stock worth $8,580,000 after purchasing an additional 141,049 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of TPG Specialty Lending by 2.9% during the second quarter. Strs Ohio now owns 5,006,805 shares of the financial services provider’s stock worth $89,822,000 after purchasing an additional 139,070 shares during the last quarter. Institutional investors and hedge funds own 60.19% of the company’s stock.
TPG Specialty Lending Company Profile
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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