Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Short Interest Up 21.3% in November

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 883,000 shares, a growth of 21.3% from the October 31st total of 728,000 shares. Based on an average daily trading volume, of 305,500 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price objective 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 decreased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, 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 report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Buy” and a consensus target price of $22.00.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently made changes to their positions in TSLX. Nations Financial Group Inc. IA ADV lifted its stake in Sixth Street Specialty Lending by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 627 shares during the last quarter. Worth Asset Management LLC lifted its stake in shares of Sixth Street Specialty Lending by 7.9% in the 2nd quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 1,037 shares during the last quarter. IFG Advisory LLC lifted its stake in shares of Sixth Street Specialty Lending by 6.3% in the 2nd quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 1,039 shares during the last quarter. Barnett & Company Inc. lifted its stake in shares of Sixth Street Specialty Lending by 4.7% in the 3rd quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of Sixth Street Specialty Lending by 6.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 1,441 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock remained flat at $21.48 during trading on Monday. The stock had a trading volume of 45,247 shares, compared to its average volume of 346,626. The company has a market cap of $2.00 billion, a P/E ratio of 10.43 and a beta of 1.06. The business’s 50 day simple moving average is $20.54 and its two-hundred day simple moving average is $20.98. Sixth Street Specialty Lending has a 12 month low of $19.50 and a 12 month high of $22.35. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

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

Sixth Street Specialty Lending Cuts Dividend

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

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.