TPG Specialty Lending Inc (TSLX) was Downgraded by National Securities to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. National Securities advised their investors in a research report released on Nov 28, 2016.
On the company’s financial health, TPG Specialty Lending Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.43. The company had revenue of $53.92 million for the quarter, compared to analysts expectations of $46.71 million. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
TPG Specialty Lending Inc opened for trading at $18.38 and hit $18.72 on the upside on Friday, eventually ending the session at $18.72, with a gain of 2.18% or 0.4 points. The heightened volatility saw the trading volume jump to 1,10,573 shares. Company has a market cap of $1,118 M.
Investors should note that on Nov 7, 2016, TPG Specialty Lending Inc announced a cash dividend of $0.3900. The company’s management has announced Dec 29, 2016 as the ex-dividend date and fixed the record date on Dec 31, 2016. The payable date has been fixed on Jan 31, 2017.
In a different news, on Nov 23, 2016, Alan Waxman (Vice President) purchased 230 shares at $18.39 per share price. According to the SEC, on Nov 23, 2016, Joshua Easterly (CEO) purchased 230 shares at $18.39 per share price. On Nov 16, 2016, David Stiepleman (Vice President) purchased 5,535 shares at $17.99 per share price, according to the Form-4 filing with the securities and exchange commission.
TPG Specialty Lending Inc. (TSL) 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. The Company seeks to generate current income primarily in the United States domiciled middle-market companies through direct originations of senior secured loans and to a lesser extent originations of mezzanine loans and investments in corporate bonds and equity securities. The companies in which TSL invests use its capital to support organic growth acquisitions market or product expansion and recapitalizations. It invests in first-lien debt second-lien debt mezzanine debt and equity and other investments. As of December 31 2014 its portfolio was invested across 19 different industries including healthcare and pharmaceuticals business services and financial services. TSL is managed by TSL Advisers LLC (the Adviser). The Adviser is the Company’s external manager.