Zacks Investment Research Downgrades TPG Specialty Lending, Inc. (TSLX) to Hold

TPG Specialty Lending, Inc. (NYSE:TSLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “

TSLX has been the topic of a number of other reports. BidaskClub upgraded TPG Specialty Lending from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of TPG Specialty Lending in a research report on Wednesday, August 9th. National Securities reiterated a “neutral” rating and issued a $19.00 price objective on shares of TPG Specialty Lending in a research report on Monday, August 7th. Finally, JMP Securities increased their price objective on TPG Specialty Lending from $21.50 to $22.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $21.00.

TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.11. The business had revenue of $58.82 million for the quarter, compared to analyst estimates of $49.41 million. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. TPG Specialty Lending’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS.

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Several hedge funds have recently bought and sold shares of TSLX. Clough Capital Partners L P lifted its stake in shares of TPG Specialty Lending by 173.8% in the 1st quarter. Clough Capital Partners L P now owns 483,863 shares of the financial services provider’s stock valued at $9,564,000 after purchasing an additional 307,163 shares during the period. Greenwich Investment Management Inc. acquired a new stake in TPG Specialty Lending during the 2nd quarter worth $2,305,000. Strs Ohio raised its stake in TPG Specialty Lending by 2.2% during the 2nd quarter. Strs Ohio now owns 4,551,809 shares of the financial services provider’s stock worth $93,084,000 after buying an additional 96,815 shares during the period. LSV Asset Management raised its stake in TPG Specialty Lending by 198.8% during the 2nd quarter. LSV Asset Management now owns 124,600 shares of the financial services provider’s stock worth $2,548,000 after buying an additional 82,900 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in TPG Specialty Lending by 163.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 109,508 shares of the financial services provider’s stock worth $2,239,000 after buying an additional 67,891 shares during the period. 62.65% of the stock is currently owned by institutional investors.

About TPG Specialty Lending

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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