Zacks Investment Research lowered shares of TPG Specialty Lending (NYSE:TSLX) from a hold rating to a sell rating in a research note issued to investors on Saturday, Zacks.com reports.
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. “
Several other brokerages have also issued reports on TSLX. National Securities reaffirmed a buy rating and issued a $5.00 target price on shares of Aquabounty Technologies in a research note on Monday, May 6th. Wells Fargo & Co upped their target price on Wingstop from $76.00 to $84.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $21.57.
Shares of TSLX opened at $19.56 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 10.64 and a beta of 0.65. The stock has a 50 day moving average price of $19.78. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.61. TPG Specialty Lending has a 1 year low of $17.75 and a 1 year high of $21.24.
TPG Specialty Lending (NYSE:TSLX) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). The firm had revenue of $52.49 million during the quarter, compared to analysts’ expectations of $56.40 million. TPG Specialty Lending had a return on equity of 13.05% and a net margin of 48.29%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, May 31st were paid a $0.01 dividend. This represents a yield of 7.74%. The ex-dividend date of this dividend was Thursday, May 30th. TPG Specialty Lending’s dividend payout ratio is currently 69.33%.
In related news, Director Hurley Doddy acquired 2,100 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $19.80 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in TPG Specialty Lending by 16.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,282 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 1,006 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in TPG Specialty Lending by 3.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,926 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 502 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in TPG Specialty Lending by 7.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,882 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 1,000 shares during the period. Advisor Group Inc. raised its holdings in TPG Specialty Lending by 183.4% in the 4th quarter. Advisor Group Inc. now owns 8,090 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 5,235 shares during the period. Finally, Northern Trust Corp raised its holdings in TPG Specialty Lending by 42.8% in the 4th quarter. Northern Trust Corp now owns 20,005 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 6,000 shares during the period. 60.58% of the stock is owned by hedge funds and other institutional investors.
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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