Sixth Street Specialty Lending (NYSE:TSLX) Shares Up 0.9% – What’s Next?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price shot up 0.9% during trading on Monday . The stock traded as high as $20.97 and last traded at $20.97. 115,619 shares changed hands during trading, a decline of 67% from the average session volume of 347,768 shares. The stock had previously closed at $20.78.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLX. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their target price on shares of 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Performance

The firm has a fifty day moving average price of $20.49 and a 200 day moving average price of $21.00. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.95 billion, a PE ratio of 10.18 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, equities research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 0.96%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC purchased a new position in Sixth Street Specialty Lending during the first quarter worth about $35,000. nVerses Capital LLC acquired a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $70,000. Ridgewood Investments LLC purchased a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth approximately $77,000. Quarry LP increased its holdings in Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 3,238 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Sixth Street Specialty Lending in the third quarter valued at approximately $86,000. 70.25% of the stock is owned by institutional investors and hedge funds.

About Sixth Street Specialty Lending

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.