CIBC World Markets Inc. increased its holdings in TPG Specialty Lending, Inc. (NYSE:TSLX) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,008 shares of the financial services provider’s stock after purchasing an additional 2,327 shares during the quarter. CIBC World Markets Inc.’s holdings in TPG Specialty Lending were worth $532,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLX. Bank of Montreal Can bought a new stake in shares of TPG Specialty Lending in the 1st quarter worth approximately $775,000. LSV Asset Management bought a new stake in shares of TPG Specialty Lending in the 1st quarter worth approximately $850,000. Ameriprise Financial Inc. bought a new stake in shares of TPG Specialty Lending in the 1st quarter worth approximately $201,000. Oxford Asset Management bought a new stake in shares of TPG Specialty Lending in the 1st quarter worth approximately $715,000. Finally, M&T Bank Corp bought a new stake in shares of TPG Specialty Lending in the 1st quarter worth approximately $280,000. Institutional investors and hedge funds own 62.65% of the company’s stock.
Shares of TPG Specialty Lending, Inc. (TSLX) opened at 20.14 on Tuesday. The stock’s 50 day moving average is $20.84 and its 200-day moving average is $20.57. TPG Specialty Lending, Inc. has a 12-month low of $17.40 and a 12-month high of $21.74.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $58.82 million for the quarter, compared to the consensus estimate of $49.41 million. TPG Specialty Lending had a net margin of 60.77% and a return on equity of 12.68%. TPG Specialty Lending’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. Equities research analysts forecast that TPG Specialty Lending, Inc. will post $1.91 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a $0.09 dividend. This represents a dividend yield of 7.38%. This is an increase from TPG Specialty Lending’s previous special dividend of $0.04. The ex-dividend date of this dividend is Tuesday, August 29th. TPG Specialty Lending’s dividend payout ratio (DPR) is currently 71.89%.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a report on Friday, September 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of TPG Specialty Lending in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of TPG Specialty Lending from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. JMP Securities boosted their price target on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, National Securities restated a “neutral” rating and set a $19.00 price target on shares of TPG Specialty Lending in a report on Monday, August 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. TPG Specialty Lending presently has a consensus rating of “Hold” and an average target price of $20.80.
TPG Specialty Lending Profile
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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