TPG Specialty Lending (NYSE:TSLX) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01, MarketWatch Earnings reports. The firm had revenue of $63.00 million during the quarter, compared to analyst estimates of $58.77 million. TPG Specialty Lending had a return on equity of 12.40% and a net margin of 53.60%. During the same quarter in the previous year, the firm earned $0.41 EPS.
Shares of TSLX traded down $0.07 during trading hours on Wednesday, hitting $20.79. The company had a trading volume of 12,293 shares, compared to its average volume of 274,068. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $1.33 billion, a PE ratio of 10.40, a P/E/G ratio of 5.00 and a beta of 0.62. TPG Specialty Lending has a 52-week low of $17.00 and a 52-week high of $20.94.
Several equities analysts have recently issued reports on TSLX shares. National Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of TPG Specialty Lending in a research report on Monday, August 6th. Zacks Investment Research lowered TPG Specialty Lending from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. ValuEngine lowered TPG Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. JPMorgan Chase & Co. raised TPG Specialty Lending from a “neutral” rating to an “overweight” rating and set a $18.50 price target for the company in a research report on Monday, July 23rd. Finally, TheStreet raised TPG Specialty Lending from a “c+” rating to a “b” rating in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $21.29.
In related news, Director Richard A. Higginbotham purchased 2,000 shares of the stock in a transaction dated Friday, August 24th. The stock was purchased at an average price of $19.73 per share, with a total value of $39,460.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $394,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. Strs Ohio raised its position in TPG Specialty Lending by 2.5% in the 3rd quarter. Strs Ohio now owns 5,132,812 shares of the financial services provider’s stock worth $104,658,000 after buying an additional 126,007 shares during the last quarter. FMR LLC raised its position in TPG Specialty Lending by 513.5% in the 2nd quarter. FMR LLC now owns 2,341,317 shares of the financial services provider’s stock worth $42,003,000 after buying an additional 1,959,686 shares during the last quarter. Delphi Financial Group Inc. raised its position in TPG Specialty Lending by 4.8% in the 2nd quarter. Delphi Financial Group Inc. now owns 1,482,024 shares of the financial services provider’s stock worth $26,602,000 after buying an additional 68,267 shares during the last quarter. Sound Income Strategies LLC raised its position in TPG Specialty Lending by 12.4% in the 3rd quarter. Sound Income Strategies LLC now owns 732,715 shares of the financial services provider’s stock worth $14,940,000 after buying an additional 81,019 shares during the last quarter. Finally, LSV Asset Management raised its position in TPG Specialty Lending by 6.2% in the 3rd quarter. LSV Asset Management now owns 620,700 shares of the financial services provider’s stock worth $12,656,000 after buying an additional 36,300 shares during the last quarter. 60.83% of the stock is owned by institutional investors and hedge funds.
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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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