Wealthstar Advisors LLC Sells 4,287 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Wealthstar Advisors LLC decreased its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,562 shares of the financial services provider’s stock after selling 4,287 shares during the quarter. Sixth Street Specialty Lending comprises 1.0% of Wealthstar Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Wealthstar Advisors LLC owned 0.14% of Sixth Street Specialty Lending worth $2,798,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TSLX. Raymond James Financial Services Advisors Inc. lifted its holdings in Sixth Street Specialty Lending by 19.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 536,593 shares of the financial services provider’s stock worth $11,590,000 after purchasing an additional 88,236 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending by 4.0% during the first quarter. Sound Income Strategies LLC now owns 2,070,259 shares of the financial services provider’s stock worth $44,366,000 after buying an additional 80,581 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Sixth Street Specialty Lending during the first quarter worth approximately $5,212,000. Burgundy Asset Management Ltd. lifted its holdings in shares of Sixth Street Specialty Lending by 3.2% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,057,960 shares of the financial services provider’s stock worth $44,452,000 after buying an additional 63,281 shares during the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of Sixth Street Specialty Lending by 3,380.9% during the fourth quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock worth $11,964,000 after buying an additional 537,964 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLX. JMP Securities reiterated a “market outperform” rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Keefe, Bruyette & Woods cut their price target 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Sixth Street Specialty Lending Stock Performance

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

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

Sixth Street Specialty Lending Cuts Dividend

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

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.