Synovus Financial Corp Increases Stock Holdings in TPG Specialty Lending Inc (NYSE:TSLX)

Synovus Financial Corp lifted its stake in shares of TPG Specialty Lending Inc (NYSE:TSLX) by 27.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,958 shares of the financial services provider’s stock after purchasing an additional 842 shares during the quarter. Synovus Financial Corp’s holdings in TPG Specialty Lending were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TPG Specialty Lending by 3.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,926 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 502 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in TPG Specialty Lending by 1.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 60,908 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 594 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in TPG Specialty Lending by 7.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,882 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 1,000 shares during the last quarter. James Investment Research Inc. grew its holdings in TPG Specialty Lending by 7.5% during the 1st quarter. James Investment Research Inc. now owns 14,300 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in TPG Specialty Lending by 16.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,282 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 1,006 shares during the last quarter. 60.58% of the stock is currently owned by institutional investors.

In other news, Director Hurley Doddy bought 2,100 shares of TPG Specialty Lending stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $19.80 per share, for a total transaction of $41,580.00. Following the purchase, the director now directly owns 3,900 shares in the company, valued at approximately $77,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

TSLX traded up $0.02 during trading on Wednesday, hitting $19.63. 386,700 shares of the company’s stock were exchanged, compared to its average volume of 250,995. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average price is $19.85. TPG Specialty Lending Inc has a fifty-two week low of $17.48 and a fifty-two week high of $21.24. The company has a market cap of $1.29 billion, a PE ratio of 8.72, a P/E/G ratio of 10.62 and a beta of 0.68.

TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). TPG Specialty Lending had a return on equity of 13.05% and a net margin of 48.29%. The business had revenue of $52.49 million for the quarter, compared to analyst estimates of $56.40 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, research analysts expect that TPG Specialty Lending Inc will post 1.85 earnings per share for the current year.

The company also recently announced a special dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.01 dividend. The ex-dividend date is Thursday, May 30th. This represents a dividend yield of 7.74%. TPG Specialty Lending’s payout ratio is 69.33%.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Co lowered shares of TPG Specialty Lending from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $21.00 to $20.50 in a report on Monday, May 6th. They noted that the move was a valuation call. National Securities reiterated a “buy” rating and set a $23.00 target price on shares of TPG Specialty Lending in a research report on Monday, May 6th. Finally, Zacks Investment Research downgraded shares of TPG Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.57.

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.

Further Reading: Hedge Funds

Institutional Ownership by Quarter for TPG Specialty Lending (NYSE:TSLX)

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