Trade Report: Today, TPG Specialty Lending Inc. (TSLX) Decreased to “Neutral” at National Securities

Today, TPG Specialty Lending Inc. (TSLX) Decreased to “Neutral” at National Securities

National Securities downgraded shares of TPG Specialty Lending Inc. (NYSE:TSLX) from a buy rating to a neutral rating in a research report released on Monday morning. The firm currently has $19.00 price objective on the stock.

“Downgrade: We are downgrading TPG Specialty Lending (TSLX) to NEUTRAL from BUY and maintaining our $19 price target. This downgrade is solely a result of valuation and our investment thesis remains in-tact. We are maintaining our 2016 NII/share estimate of $1.82 and our 2017 NII/share estimate of $1.85. Our $19 price target implies an estimated 2017 P/NII of 10.3x, dividend yield of 8.2%, and P/NAV of 1.16x compared to the BDC sector averages of 9.9x, 9.4%, and 0.90x, respectively.,” the firm’s analyst commented.

TSLX has been the subject of a number of other reports. Zacks Investment Research cut shares of TPG Specialty Lending from a buy rating to a hold rating in a research note on Thursday, October 6th. TheStreet cut shares of TPG Specialty Lending from a buy rating to a hold rating in a research note on Tuesday, September 20th. JMP Securities reaffirmed a buy rating on shares of TPG Specialty Lending in a research note on Wednesday, November 9th. Barclays PLC reaffirmed a hold rating and set a $18.00 price target on shares of TPG Specialty Lending in a research note on Wednesday, November 9th. Finally, Citigroup Inc. lifted their price target on shares of TPG Specialty Lending from $16.00 to $17.00 and gave the stock a neutral rating in a research note on Friday, August 12th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $18.57.

Shares of TPG Specialty Lending (NYSE:TSLX) opened at 18.24 on Monday. TPG Specialty Lending has a one year low of $15.11 and a one year high of $18.79. The firm has a 50-day moving average of $17.95 and a 200-day moving average of $17.53.

TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Monday, November 7th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. TPG Specialty Lending had a net margin of 53.66% and a return on equity of 11.50%. The firm earned $53.92 million during the quarter, compared to analysts’ expectations of $46.54 million. During the same period in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that TPG Specialty Lending will post $1.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Saturday, December 31st will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.56 annualized dividend and a dividend yield of 8.33%. TPG Specialty Lending’s dividend payout ratio is currently 91.77%.

In other TPG Specialty Lending news, VP David Stiepleman purchased 5,535 shares of TPG Specialty Lending stock in a transaction dated Monday, November 14th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $99,574.65. Following the acquisition, the vice president now owns 5,535 shares in the company, valued at approximately $99,574.65. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 4.90% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. GAM Holding AG acquired a new stake in TPG Specialty Lending during the third quarter valued at approximately $114,000. GSA Capital Partners LLP acquired a new stake in TPG Specialty Lending during the second quarter valued at approximately $185,000. Nomura Holdings Inc. acquired a new stake in TPG Specialty Lending during the second quarter valued at approximately $244,000. PineBridge Investments L.P. raised its stake in TPG Specialty Lending by 188.7% in the second quarter. PineBridge Investments L.P. now owns 15,558 shares of the company’s stock valued at $258,000 after buying an additional 10,169 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in TPG Specialty Lending during the third quarter valued at approximately $288,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

TPG Specialty Lending Company Profile

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