Sixth Street Specialty Lending (NYSE:TSLX) Sets New 52-Week Low – Should You Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price reached a new 52-week low on Wednesday . The company traded as low as $16.23 and last traded at $16.48, with a volume of 695183 shares traded. The stock had previously closed at $16.25.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research lowered Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods dropped their price objective on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating for the company in a report on Thursday, May 7th. Truist Financial cut their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.83.

Sixth Street Specialty Lending Stock Up 1.4%

The company has a market cap of $1.57 billion, a P/E ratio of 14.33 and a beta of 0.60. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. The business’s fifty day moving average is $17.79 and its two-hundred day moving average is $19.31.

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

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.42 dividend. The ex-dividend date is Monday, June 15th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.2%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 146.09%.

Insider Transactions at Sixth Street Specialty Lending

In other news, VP Ross Anthony Bruck acquired 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the purchase, the vice president directly owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC grew 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 buying an additional 1,508 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Sixth Street Specialty Lending during the first quarter valued at $63,000. Advisory Services Network LLC bought a new stake in shares of Sixth Street Specialty Lending in the third quarter valued at about $75,000. Redmont Wealth Advisors LLC raised its holdings in shares of Sixth Street Specialty Lending by 37.8% in the fourth quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,310 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Sixth Street Specialty Lending in the fourth quarter worth about $108,000. 70.25% of the stock is owned by institutional investors.

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.