Brokerages Set Sixth Street Specialty Lending, Inc. (NYSE:TSLX) PT at $21.94

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.9375.

Several equities research analysts have recently weighed in on TSLX shares. Royal Bank Of Canada lowered their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Keefe, Bruyette & Woods cut their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. lowered their price target on Sixth Street Specialty Lending from $21.00 to $18.50 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th.

Sixth Street Specialty Lending Price Performance

Shares of Sixth Street Specialty Lending stock opened at $17.70 on Friday. The firm has a market cap of $1.68 billion, a P/E ratio of 9.78 and a beta of 0.73. The firm’s 50-day simple moving average is $19.50 and its 200-day simple moving average is $21.21. Sixth Street Specialty Lending has a twelve month low of $16.99 and a twelve month high of $25.17. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.20). The business had revenue of $108.25 million during the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same period last year, the company earned $0.61 EPS. As a group, research analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio is presently 101.66%.

Insider Activity

In other news, VP Alan Waxman purchased 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $18.47 per share, with a total value of $831,150.00. Following the acquisition, the vice president directly owned 545,000 shares of the company’s stock, valued at approximately $10,066,150. This trade represents a 9.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 545,000 shares of company stock worth $9,997,150. Company insiders own 3.22% of the company’s stock.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds have recently modified their holdings of TSLX. Harbor Investment Advisory LLC raised its stake in shares of Sixth Street Specialty Lending by 673.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,508 shares during the last quarter. Advisory Services Network LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $75,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $79,000. State of Alaska Department of Revenue acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $98,000. Finally, MAI Capital Management raised its position in Sixth Street Specialty Lending by 83.5% in the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,940 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.