Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 0.5% – Time to Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) was down 0.5% on Tuesday . The company traded as low as $21.33 and last traded at $21.34. Approximately 70,053 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 347,378 shares. The stock had previously closed at $21.45.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TSLX shares. LADENBURG THALM/SH SH raised 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. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company cut their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. 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 report on Tuesday, November 12th. Six equities 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 a consensus price target of $22.00.

Sixth Street Specialty Lending Stock Performance

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 stock has a market cap of $2.01 billion, a price-to-earnings ratio of 10.45 and a beta of 1.06. The stock’s 50-day moving average is $20.60 and its 200-day moving average is $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The business had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. During the same quarter last year, the firm earned $0.60 earnings per share. On average, analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Trading of Sixth Street Specialty Lending

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter worth about $70,000. Ridgewood Investments LLC acquired a new stake in Sixth Street Specialty Lending during the second quarter valued at approximately $77,000. Quarry LP lifted its holdings 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Sixth Street Specialty Lending in the 3rd quarter worth approximately $86,000. Finally, Atlas Capital Advisors LLC acquired a new position in Sixth Street Specialty Lending in the second quarter worth $109,000. 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.