Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Purchased by Progeny 3 Inc.

Progeny 3 Inc. lifted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,252,774 shares of the financial services provider’s stock after acquiring an additional 215,996 shares during the period. Sixth Street Specialty Lending makes up approximately 3.9% of Progeny 3 Inc.’s portfolio, making the stock its 10th biggest position. Progeny 3 Inc. owned approximately 2.41% of Sixth Street Specialty Lending worth $46,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLX. Rockefeller Capital Management L.P. lifted its position in shares of Sixth Street Specialty Lending by 29.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 192,446 shares of the financial services provider’s stock valued at $3,951,000 after acquiring an additional 43,996 shares during the period. Quantbot Technologies LP increased its stake in Sixth Street Specialty Lending by 399.4% in the third quarter. Quantbot Technologies LP now owns 26,774 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 21,413 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Sixth Street Specialty Lending by 10.3% during the third quarter. D.A. Davidson & CO. now owns 160,617 shares of the financial services provider’s stock valued at $3,297,000 after purchasing an additional 15,060 shares during the period. Truvestments Capital LLC increased its position in Sixth Street Specialty Lending by 4.7% in the 3rd quarter. Truvestments Capital LLC now owns 117,791 shares of the financial services provider’s stock valued at $2,418,000 after buying an additional 5,309 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Sixth Street Specialty Lending in the third quarter worth approximately $987,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of recent research 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 for the company in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $21.48 on Friday. The stock has a market cap of $2.00 billion, a P/E ratio of 10.43 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The company’s 50 day moving average price is $20.54 and its two-hundred day moving average price is $20.99. Sixth Street Specialty Lending, Inc. has a 52 week low of $19.50 and a 52 week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (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 business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter last year, the company posted $0.60 earnings per share. 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 company also recently declared a dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

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.