TPG Specialty Lending (TSLX) Hits New 52-Week High Following Earnings Beat

TPG Specialty Lending Inc (NYSE:TSLX) shares reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $21.00 and last traded at $20.63, with a volume of 7895 shares. The stock had previously closed at $20.86.

The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. TPG Specialty Lending had a return on equity of 12.36% and a net margin of 55.73%. The business had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $58.77 million. During the same quarter last year, the firm posted $0.41 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.56 annualized dividend and a yield of 7.54%. TPG Specialty Lending’s dividend payout ratio is currently 78.00%.

Several equities research analysts recently commented on the company. Zacks Investment Research cut TPG Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 1st. ValuEngine cut TPG Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.29.

In other news, Director Richard A. Higginbotham purchased 2,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were acquired at an average price of $19.73 per share, for a total transaction of $39,460.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $394,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Strs Ohio boosted its holdings in TPG Specialty Lending by 2.5% in the third quarter. Strs Ohio now owns 5,132,812 shares of the financial services provider’s stock worth $104,658,000 after acquiring an additional 126,007 shares in the last quarter. FMR LLC boosted its holdings in TPG Specialty Lending by 513.5% in the second quarter. FMR LLC now owns 2,341,317 shares of the financial services provider’s stock worth $42,003,000 after acquiring an additional 1,959,686 shares in the last quarter. Delphi Financial Group Inc. boosted its holdings in TPG Specialty Lending by 4.8% in the second quarter. Delphi Financial Group Inc. now owns 1,482,024 shares of the financial services provider’s stock worth $26,602,000 after acquiring an additional 68,267 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in TPG Specialty Lending by 12.4% in the third quarter. Sound Income Strategies LLC now owns 732,715 shares of the financial services provider’s stock worth $14,940,000 after acquiring an additional 81,019 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in TPG Specialty Lending by 6.2% in the third quarter. LSV Asset Management now owns 620,700 shares of the financial services provider’s stock worth $12,656,000 after acquiring an additional 36,300 shares in the last quarter. Institutional investors and hedge funds own 60.83% of the company’s stock.

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $1.36 billion, a PE ratio of 10.35, a P/E/G ratio of 5.12 and a beta of 0.62.

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TPG Specialty Lending Company Profile (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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