Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.1% – Should You Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares traded down 0.1% during trading on Friday . The company traded as low as $21.28 and last traded at $21.33. 44,807 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 344,552 shares. The stock had previously closed at $21.36.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price target 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. Keefe, Bruyette & Woods reduced their target price 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. Finally, LADENBURG THALM/SH SH raised 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Down 0.2 %

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 stock has a market cap of $1.99 billion, a price-to-earnings ratio of 10.35 and a beta of 1.06. The business has a fifty day moving average of $20.72 and a 200 day moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter last year, the firm earned $0.60 EPS. On average, equities 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 given a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently made changes to their positions in TSLX. Van ECK Associates Corp lifted its position in shares of Sixth Street Specialty Lending by 18.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after acquiring an additional 336,596 shares during the period. Millennium Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 482.6% in the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after buying an additional 237,995 shares during the period. Progeny 3 Inc. lifted its holdings in Sixth Street Specialty Lending by 10.6% during the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after acquiring an additional 215,996 shares in the last quarter. TrueMark Investments LLC acquired a new position in Sixth Street Specialty Lending in the second quarter valued at about $4,378,000. Finally, Baillie Gifford & Co. raised its position in shares of Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock worth $8,755,000 after purchasing an additional 184,634 shares during the period. 70.25% of the stock is currently 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.