Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.2% – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $20.82 and last traded at $20.89. Approximately 25,753 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 347,519 shares. The stock had previously closed at $20.94.

Wall Street Analyst Weigh In

TSLX has been the topic of several research analyst reports. Wells Fargo & Company decreased 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. Keefe, Bruyette & Woods decreased 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 report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to 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 Stock Up 0.4 %

The stock has a market capitalization of $1.96 billion, a P/E ratio of 10.14 and a beta of 1.06. The firm’s fifty day moving average is $20.49 and its 200-day moving average is $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 announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same period last year, the firm posted $0.60 EPS. As a group, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be paid a $0.05 dividend. This represents a dividend yield of 7.78%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently modified their holdings of TSLX. EntryPoint Capital LLC bought a new position in shares of Sixth Street Specialty Lending in the first quarter worth about $35,000. nVerses Capital LLC bought a new stake in shares of Sixth Street Specialty Lending during the second quarter worth approximately $70,000. Ridgewood Investments LLC bought a new stake in shares of Sixth Street Specialty Lending during the second quarter worth approximately $77,000. Quarry LP raised its stake in shares of Sixth Street Specialty Lending by 378.3% during the third 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 during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Sixth Street Specialty Lending during the third quarter worth approximately $86,000. 70.25% of the stock is owned by institutional investors.

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.