Sixth Street Specialty Lending (NYSE:TSLX) Releases Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) announced its earnings results on Tuesday. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01, Zacks reports. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same quarter in the prior year, the business earned $0.57 earnings per share.

Sixth Street Specialty Lending Stock Down 1.3%

Shares of Sixth Street Specialty Lending stock traded down $0.29 during midday trading on Tuesday, reaching $22.35. 327,246 shares of the company’s stock traded hands, compared to its average volume of 476,586. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79. Sixth Street Specialty Lending has a 52 week low of $18.58 and a 52 week high of $25.17. The company’s 50 day simple moving average is $22.96 and its 200 day simple moving average is $23.10. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 11.12 and a beta of 0.85.

Analyst Ratings Changes

TSLX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $24.00 price target on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. Wells Fargo & Company lifted their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. Finally, JMP Securities boosted their price target on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.56.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently made changes to their positions in TSLX. CANADA LIFE ASSURANCE Co boosted its stake in shares of Sixth Street Specialty Lending by 2.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 136,054 shares of the financial services provider’s stock worth $3,245,000 after acquiring an additional 3,440 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Sixth Street Specialty Lending by 181.7% in the 2nd quarter. Corient Private Wealth LLC now owns 113,162 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 72,995 shares during the last quarter. Tidal Investments LLC grew its holdings in Sixth Street Specialty Lending by 2.2% during the second quarter. Tidal Investments LLC now owns 53,219 shares of the financial services provider’s stock valued at $1,267,000 after purchasing an additional 1,168 shares during the last quarter. HRT Financial LP lifted its stake in shares of Sixth Street Specialty Lending by 185.6% in the second quarter. HRT Financial LP now owns 190,316 shares of the financial services provider’s stock worth $4,531,000 after buying an additional 123,682 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of Sixth Street Specialty Lending by 6.6% during the 2nd quarter. IHT Wealth Management LLC now owns 105,149 shares of the financial services provider’s stock worth $2,504,000 after buying an additional 6,549 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.