Sixth Street Specialty Lending (NYSE:TSLX) Shares Up 0% – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares rose 0% during trading on Thursday . The company traded as high as $21.50 and last traded at $21.41. Approximately 60,272 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 344,965 shares. The stock had previously closed at $21.40.

Analysts Set New Price Targets

TSLX has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.0 %

The firm has a market capitalization of $1.99 billion, a PE ratio of 10.37 and a beta of 1.06. The firm has a 50 day simple moving average of $20.72 and a 200 day simple moving average of $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.

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

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be paid a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Sixth Street Specialty Lending by 9.1% during the 1st quarter. Comerica Bank now owns 18,142 shares of the financial services provider’s stock valued at $389,000 after buying an additional 1,510 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Sixth Street Specialty Lending by 1.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 315,104 shares of the financial services provider’s stock valued at $6,727,000 after acquiring an additional 4,782 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Sixth Street Specialty Lending by 10.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 173,830 shares of the financial services provider’s stock worth $3,711,000 after purchasing an additional 16,770 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Sixth Street Specialty Lending by 5.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 29,365 shares during the period. Finally, Baillie Gifford & Co. increased its position in shares of Sixth Street Specialty Lending by 81.9% during the 2nd quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock valued at $8,755,000 after purchasing an additional 184,634 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

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.