Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 0.1% – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares fell 0.1% during trading on Wednesday . The company traded as low as $20.48 and last traded at $20.52. 50,152 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 348,338 shares. The stock had previously closed at $20.55.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price 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. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their target price on shares of 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Price Performance

The company’s 50-day moving average price is $20.53 and its 200-day moving average price is $21.01. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 9.96 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $119.22 million during 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 last year, the business posted $0.60 earnings per share. On average, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. This represents a dividend yield of 9.1%. The ex-dividend date is Monday, December 16th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new position in Sixth Street Specialty Lending in the first quarter valued at $35,000. nVerses Capital LLC purchased a new position in shares of Sixth Street Specialty Lending in the 2nd quarter valued at about $70,000. Ridgewood Investments LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter worth approximately $77,000. Quarry LP increased its position in shares of Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after buying an additional 3,238 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Sixth Street Specialty Lending during the third quarter worth about $86,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.