Cornerstone Wealth Management LLC Purchases 2,859 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Cornerstone Wealth Management LLC raised its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.5% in the first quarter, Holdings Channel reports. The institutional investor owned 46,599 shares of the financial services provider’s stock after buying an additional 2,859 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Sixth Street Specialty Lending were worth $999,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TSLX. Envestnet Asset Management Inc. grew its holdings in Sixth Street Specialty Lending by 18.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 279,883 shares of the financial services provider’s stock valued at $5,721,000 after buying an additional 43,501 shares in the last quarter. LPL Financial LLC grew its holdings in Sixth Street Specialty Lending by 4.7% during the 3rd quarter. LPL Financial LLC now owns 362,462 shares of the financial services provider’s stock valued at $7,409,000 after buying an additional 16,133 shares in the last quarter. Trexquant Investment LP purchased a new position in Sixth Street Specialty Lending during the 3rd quarter valued at about $381,000. Toroso Investments LLC grew its holdings in Sixth Street Specialty Lending by 6.4% during the 3rd quarter. Toroso Investments LLC now owns 39,091 shares of the financial services provider’s stock valued at $799,000 after buying an additional 2,368 shares in the last quarter. Finally, Advisors Capital Management LLC grew its holdings in Sixth Street Specialty Lending by 4.2% during the 3rd quarter. Advisors Capital Management LLC now owns 682,873 shares of the financial services provider’s stock valued at $13,958,000 after buying an additional 27,689 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX traded down $0.02 during midday trading on Thursday, hitting $21.74. 181,018 shares of the company’s stock were exchanged, compared to its average volume of 305,891. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.45 and a 12-month high of $22.35. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.14. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 8.77 and a beta of 1.05. The business’s fifty day moving average price is $21.47 and its two-hundred day moving average price is $21.41.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. The business had revenue of $117.78 million for the quarter, compared to analysts’ expectations of $118.44 million. As a group, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 3rd were given a dividend of $0.06 per share. This represents a yield of 7.63%. The ex-dividend date of this dividend was Friday, May 31st. Sixth Street Specialty Lending’s payout ratio is currently 74.19%.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLX. Keefe, Bruyette & Woods reduced their target price on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a report on Monday, May 6th. JMP Securities reissued a “market outperform” rating and set a $22.50 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Profile

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.