TPG Specialty Lending (NYSE:TSLX) Lifted to Outperform at Wells Fargo & Co

Wells Fargo & Co upgraded shares of TPG Specialty Lending (NYSE:TSLX) from a market perform rating to an outperform rating in a research report released on Thursday, August 1st, Automated Import reports. The brokerage currently has $21.00 price target on the financial services provider’s stock, up from their prior price target of $20.50.

Other research analysts have also recently issued research reports about the stock. National Securities restated a buy rating and issued a $23.00 target price on shares of TPG Specialty Lending in a report on Monday, May 6th. Zacks Investment Research cut shares of TPG Specialty Lending from a hold rating to a sell rating in a report on Saturday, July 27th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $22.25.

Shares of NYSE:TSLX traded down $0.13 during trading hours on Thursday, reaching $20.77. The stock had a trading volume of 193,919 shares, compared to its average volume of 216,416. TPG Specialty Lending has a 1 year low of $17.75 and a 1 year high of $21.24. The firm’s 50 day moving average is $19.96 and its 200-day moving average is $19.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 11.35 and a beta of 0.62.

TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. TPG Specialty Lending had a net margin of 54.68% and a return on equity of 12.45%. The company had revenue of $62.43 million for the quarter, compared to the consensus estimate of $57.40 million. During the same period in the prior year, the firm posted $0.52 EPS. Analysts forecast that TPG Specialty Lending will post 1.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, August 29th. TPG Specialty Lending’s dividend payout ratio is currently 69.33%.

In other TPG Specialty Lending news, Director Hurley Doddy purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $20.25 per share, for a total transaction of $50,625.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in TPG Specialty Lending during the 1st quarter valued at about $28,000. Rockefeller Capital Management L.P. increased its holdings in TPG Specialty Lending by 403.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,685 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,350 shares in the last quarter. Advisory Alpha LLC purchased a new position in TPG Specialty Lending during the 1st quarter valued at about $34,000. NEXT Financial Group Inc purchased a new position in TPG Specialty Lending during the 2nd quarter valued at about $49,000. Finally, Arlington Partners LLC purchased a new position in TPG Specialty Lending during the 2nd quarter valued at about $55,000. Institutional investors own 61.20% 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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