TPG Specialty Lending, Inc. (TSLX) Upgraded at BidaskClub

BidaskClub upgraded shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a buy rating to a strong-buy rating in a research note published on Tuesday, August 1st.

A number of other research firms have also issued reports on TSLX. Zacks Investment Research raised TPG Specialty Lending from a hold rating to a buy rating and set a $23.00 target price on the stock in a report on Tuesday, July 25th. National Securities reaffirmed a neutral rating and issued a $19.00 target price on shares of TPG Specialty Lending in a report on Monday, May 8th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $20.80.

Shares of TPG Specialty Lending (NYSE:TSLX) traded down 1.50% on Tuesday, reaching $20.96. 286,947 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $20.82 and its 200-day moving average price is $20.34. TPG Specialty Lending has a 52 week low of $17.00 and a 52 week high of $21.74.

TPG Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.11. The firm had revenue of $58.82 million for the quarter, compared to analyst estimates of $49.41 million. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Equities analysts expect that TPG Specialty Lending will post $1.91 EPS for the current fiscal year.

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The company also recently disclosed a special dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.09 dividend. The ex-dividend date is Tuesday, August 29th. This represents a dividend yield of 7.38%. This is an increase from TPG Specialty Lending’s previous special dividend of $0.04. TPG Specialty Lending’s dividend payout ratio (DPR) is currently 71.89%.

Hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of TPG Specialty Lending by 14.5% in the first quarter. Janney Montgomery Scott LLC now owns 63,522 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 8,024 shares in the last quarter. M&T Bank Corp bought a new position in TPG Specialty Lending during the first quarter valued at approximately $280,000. Bank of America Corp DE increased its position in TPG Specialty Lending by 4.5% in the first quarter. Bank of America Corp DE now owns 218,199 shares of the financial services provider’s stock valued at $4,449,000 after buying an additional 9,369 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in TPG Specialty Lending by 127.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 333,099 shares of the financial services provider’s stock valued at $6,791,000 after buying an additional 186,910 shares during the period. Finally, Mckinley Capital Management LLC Delaware increased its position in TPG Specialty Lending by 4.6% in the first quarter. Mckinley Capital Management LLC Delaware now owns 182,119 shares of the financial services provider’s stock valued at $3,713,000 after buying an additional 8,022 shares during the period. Institutional investors own 64.35% of the company’s stock.

About TPG Specialty Lending

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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