Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,184 shares of the financial services provider’s stock after purchasing an additional 621 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Sixth Street Specialty Lending were worth $984,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Trust Co. of Vermont purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth approximately $39,000. Quarry LP increased its stake in Sixth Street Specialty Lending by 378.3% during the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after buying an additional 3,238 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $86,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $196,000. Finally, ProShare Advisors LLC increased its stake in Sixth Street Specialty Lending by 14.5% during the 2nd quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock worth $320,000 after buying an additional 1,898 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $22.05 on Friday. The firm has a market capitalization of $2.06 billion, a PE ratio of 10.70 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.50 and a 1 year high of $22.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The business has a 50 day simple moving average of $21.21 and a 200-day simple moving average of $20.93.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the prior year, the business posted $0.60 earnings per share. Equities research 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 firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 2nd were given a $0.05 dividend. The ex-dividend date was Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s payout ratio is 89.32%.

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.