Sixth Street Specialty Lending (NYSE:TSLX) Sees Unusually-High Trading Volume – What’s Next?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares saw an uptick in trading volume on Friday . 1,063,168 shares traded hands during trading, an increase of 44% from the previous session’s volume of 736,865 shares.The stock last traded at $18.4050 and had previously closed at $18.68.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. JPMorgan Chase & Co. decreased their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Royal Bank Of Canada dropped 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. Finally, Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Sixth Street Specialty Lending Price Performance

The company’s fifty day moving average price is $21.26 and its two-hundred day moving average price is $22.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 10.04 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same period in the previous year, the firm posted $0.61 EPS. On average, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, March 16th. Sixth Street Specialty Lending’s payout ratio is 101.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TSLX. Texas Yale Capital Corp. lifted its stake in Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Texas Yale Capital Corp. now owns 35,500 shares of the financial services provider’s stock valued at $845,000 after acquiring an additional 500 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Sixth Street Specialty Lending by 2.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 505 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Sixth Street Specialty Lending by 1.2% in the fourth quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock valued at $958,000 after purchasing an additional 506 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Sixth Street Specialty Lending by 5.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 532 shares during the last quarter. Finally, IFG Advisory LLC lifted its position in shares of Sixth Street Specialty Lending by 2.7% in the third quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 551 shares in the last quarter. 70.25% of the stock is currently 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.