TPG Specialty Lending Inc (NYSE:TSLX) shares shot up 21.5% on Wednesday . The company traded as high as $13.63 and last traded at $15.21, 37,927 shares changed hands during mid-day trading. A decline of 96% from the average session volume of 1,047,986 shares. The stock had previously closed at $12.52.
A number of research firms have weighed in on TSLX. Zacks Investment Research raised shares of TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, February 13th. Raymond James cut shares of TPG Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. They noted that the move was a valuation call. Finally, Royal Bank of Canada lifted their price objective on shares of TPG Specialty Lending from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.25.
The firm has a market cap of $901.39 million, a PE ratio of 6.37 and a beta of 0.58. The business’s 50 day moving average price is $20.05 and its 200 day moving average price is $21.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81.
TPG Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $66.50 million during the quarter, compared to analysts’ expectations of $63.18 million. TPG Specialty Lending had a net margin of 61.47% and a return on equity of 11.65%. The company’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. As a group, analysts predict that TPG Specialty Lending Inc will post 1.99 earnings per share for the current year.
The business also recently announced a — dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a dividend yield of 7.2%. TPG Specialty Lending’s dividend payout ratio is currently 84.54%.
In related news, VP Steven Pluss bought 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $17.37 per share, with a total value of $260,550.00. Following the completion of the purchase, the vice president now directly owns 26,500 shares of the company’s stock, valued at $460,305. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Ross bought 2,876 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were bought at an average cost of $19.57 per share, with a total value of $56,283.32. Following the purchase, the director now directly owns 25,577 shares of the company’s stock, valued at $500,541.89. The disclosure for this purchase can be found here. Insiders have bought 19,126 shares of company stock valued at $338,176 in the last three months. Corporate insiders own 4.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Monument Capital Management boosted its position in TPG Specialty Lending by 0.7% during the fourth quarter. Monument Capital Management now owns 65,555 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 478 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in TPG Specialty Lending by 5.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,308 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 728 shares during the last quarter. Sargent Investment Group LLC boosted its position in TPG Specialty Lending by 1.1% during the fourth quarter. Sargent Investment Group LLC now owns 89,630 shares of the financial services provider’s stock worth $1,924,000 after acquiring an additional 970 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in TPG Specialty Lending by 202.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,830 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Landsberg Bennett & Dubbaneh LLC boosted its position in TPG Specialty Lending by 1.6% during the fourth quarter. Landsberg Bennett & Dubbaneh LLC now owns 114,521 shares of the financial services provider’s stock worth $2,463,000 after acquiring an additional 1,823 shares during the last quarter. Hedge funds and other institutional investors own 59.90% of the company’s stock.
About TPG Specialty Lending (NYSE:TSLX)
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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