Commonwealth Equity Services LLC Raises Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Commonwealth Equity Services LLC grew its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 21.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,119 shares of the financial services provider’s stock after purchasing an additional 23,796 shares during the period. Commonwealth Equity Services LLC’s holdings in Sixth Street Specialty Lending were worth $2,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Sixth Street Specialty Lending by 3.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 304,829 shares of the financial services provider’s stock worth $6,533,000 after buying an additional 10,163 shares during the period. Riverbridge Partners LLC lifted its stake in Sixth Street Specialty Lending by 2.8% in the 1st quarter. Riverbridge Partners LLC now owns 68,620 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 1,868 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Sixth Street Specialty Lending by 105.0% in the 1st quarter. Global Retirement Partners LLC now owns 1,757 shares of the financial services provider’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Sixth Street Specialty Lending by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 36,276 shares of the financial services provider’s stock worth $777,000 after acquiring an additional 571 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Sixth Street Specialty Lending by 1.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 543,115 shares of the financial services provider’s stock worth $11,639,000 after purchasing an additional 6,522 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLX has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods cut their price objective on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to 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 Stock Down 0.4 %

NYSE:TSLX traded down $0.08 during midday trading on Friday, reaching $21.66. The company had a trading volume of 73,361 shares, compared to its average volume of 383,331. The stock’s fifty day simple moving average is $21.48 and its 200-day simple moving average is $21.41. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.14. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.45 and a 12-month high of $22.35. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.77 and a beta of 1.05.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data 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 company had revenue of $117.78 million for the quarter, compared to analyst estimates of $118.44 million. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. On average, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, June 3rd were issued 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.