Stelac Advisory Services LLC lowered its position in TPG Specialty Lending Inc (NYSE:TSLX) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,249 shares of the financial services provider’s stock after selling 718 shares during the quarter. Stelac Advisory Services LLC’s holdings in TPG Specialty Lending were worth $120,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio increased its position in TPG Specialty Lending by 14.5% during the second quarter. Strs Ohio now owns 6,761,649 shares of the financial services provider’s stock worth $111,499,000 after acquiring an additional 855,768 shares during the period. Progeny 3 Inc. acquired a new stake in shares of TPG Specialty Lending in the 1st quarter valued at approximately $10,932,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of TPG Specialty Lending in the 1st quarter valued at approximately $6,578,000. Acadian Asset Management LLC boosted its stake in shares of TPG Specialty Lending by 30.6% in the 1st quarter. Acadian Asset Management LLC now owns 516,505 shares of the financial services provider’s stock valued at $7,190,000 after purchasing an additional 121,032 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of TPG Specialty Lending in the 2nd quarter valued at approximately $1,449,000. Hedge funds and other institutional investors own 58.32% of the company’s stock.
TSLX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of TPG Specialty Lending from $15.50 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on shares of TPG Specialty Lending from $22.50 to $16.50 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Zacks Investment Research upgraded shares of TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday. Royal Bank of Canada reiterated a “buy” rating and set a $16.00 target price on shares of TPG Specialty Lending in a research report on Sunday, April 12th. Finally, Raymond James downgraded shares of TPG Specialty Lending from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.36.
NYSE:TSLX opened at $17.04 on Friday. The company has a market cap of $1.15 billion, a PE ratio of 8.39 and a beta of 1.03. TPG Specialty Lending Inc has a one year low of $11.25 and a one year high of $23.67. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $16.72 and its 200 day simple moving average is $18.05.
TPG Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $66.27 million for the quarter, compared to the consensus estimate of $65.29 million. TPG Specialty Lending had a net margin of 23.65% and a return on equity of 12.40%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. Equities research analysts expect that TPG Specialty Lending Inc will post 1.91 EPS for the current year.
The company also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a $0.41 dividend. The ex-dividend date was Friday, June 12th. This is an increase from TPG Specialty Lending’s previous dividend of $0.39. TPG Specialty Lending’s payout ratio is 84.54%.
TPG Specialty Lending Company Profile
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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