Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 0.9% – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price rose 0.9% on Monday . The company traded as high as $20.97 and last traded at $20.97. Approximately 115,619 shares traded hands during trading, a decline of 67% from the average daily volume of 347,768 shares. The stock had previously closed at $20.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Stock Performance

The stock’s 50-day moving average is $20.49 and its 200-day moving average is $20.99. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 10.25 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same quarter last year, the firm posted $0.60 EPS. On average, analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be given a $0.05 dividend. This represents a dividend yield of 7.69%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV lifted its stake in shares of Sixth Street Specialty Lending by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after acquiring an additional 627 shares in the last quarter. Worth Asset Management LLC grew its position in shares of Sixth Street Specialty Lending by 7.9% during the second quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock worth $302,000 after buying an additional 1,037 shares in the last quarter. IFG Advisory LLC increased its stake in shares of Sixth Street Specialty Lending by 6.3% in the second quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock worth $374,000 after buying an additional 1,039 shares during the last quarter. EMC Capital Management raised its holdings in Sixth Street Specialty Lending by 23.1% in the first quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Barnett & Company Inc. boosted its stake in Sixth Street Specialty Lending by 4.7% during the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, 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.