Sixth Street Specialty Lending, Inc. $TSLX Shares Bought by Legal & General Group Plc

Legal & General Group Plc raised its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 16.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 665,352 shares of the financial services provider’s stock after purchasing an additional 91,578 shares during the period. Legal & General Group Plc’s holdings in Sixth Street Specialty Lending were worth $14,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC raised its position in shares of Sixth Street Specialty Lending by 673.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,508 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $75,000. Redmont Wealth Advisors LLC purchased a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $79,000. SG Americas Securities LLC acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $108,000. Finally, Key Capital Management INC acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $17.89 on Wednesday. The stock has a fifty day simple moving average of $18.14 and a 200-day simple moving average of $19.82. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.70 billion, a PE ratio of 15.56 and a beta of 0.60. Sixth Street Specialty Lending, Inc. has a twelve month low of $16.96 and a twelve month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same quarter last year, the firm posted $0.58 earnings per share. Equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.42 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.68 annualized dividend and a dividend yield of 9.4%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 160.00%.

Insider Buying and Selling

In other news, VP Alan Waxman acquired 200,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $18.18 per share, with a total value of $3,636,000.00. Following the completion of the purchase, the vice president owned 500,000 shares of the company’s stock, valued at $9,090,000. This represents a 66.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Ross Anthony Bruck acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the acquisition, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. This trade represents a 78.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 553,000 shares of company stock valued at $10,139,230 in the last ninety days. 3.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSLX has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Citizens Jmp dropped their target price on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Zacks Research cut shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Profile

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.