Marble Harbor Investment Counsel LLC Acquires New Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Marble Harbor Investment Counsel LLC bought a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,400 shares of the financial services provider’s stock, valued at approximately $329,000.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC grew its stake in shares of Sixth Street Specialty Lending by 4.0% in 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 purchasing an additional 80,581 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at about $5,212,000. Baillie Gifford & Co. raised its position in shares of Sixth Street Specialty Lending by 41.7% during the first quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock worth $4,831,000 after acquiring an additional 66,348 shares during the last quarter. MGO One Seven LLC boosted its holdings in Sixth Street Specialty Lending by 3,380.9% in the fourth quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock valued at $11,964,000 after acquiring an additional 537,964 shares during the last quarter. Finally, Naviter Wealth LLC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter valued at approximately $1,326,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Judy S. Slotkin acquired 7,015 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $19.90 per share, for a total transaction of $139,598.50. Following the purchase, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Stock Up 0.7 %

TSLX stock opened at $21.40 on Monday. The stock’s 50 day simple moving average is $21.07 and its 200 day simple moving average is $21.20. The company has a market cap of $1.99 billion, a P/E ratio of 8.63 and a beta of 1.06. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $121.82 million for the quarter, compared to analyst estimates of $120.33 million. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 annualized dividend and a yield of 8.60%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

Sixth Street Specialty Lending Company 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.