Alan Waxman Buys 45,000 Shares of Sixth Street Specialty Lending (NYSE:TSLX) Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Alan Waxman bought 45,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $18.47 per share, for a total transaction of $831,150.00. Following the transaction, the vice president directly owned 545,000 shares of the company’s stock, valued at $10,066,150. The trade was a 9.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alan Waxman also recently made the following trade(s):

• On Monday, March 9th, Alan Waxman purchased 200,000 shares of Sixth Street Specialty Lending stock. The stock was bought at an average cost of $18.18 per share, for a total transaction of $3,636,000.00.
• On Friday, March 6th, Alan Waxman acquired 200,000 shares of Sixth Street Specialty Lending stock. The stock was bought at an average price of $18.42 per share, for a total transaction of $3,684,000.00.
• On Thursday, March 5th, Alan Waxman acquired 100,000 shares of Sixth Street Specialty Lending stock. The stock was bought at an average price of $18.46 per share, for a total transaction of $1,846,000.00.

Sixth Street Specialty Lending Trading Down 0.1%

Sixth Street Specialty Lending stock traded down $0.01 during trading on Wednesday, hitting $18.42. The company had a trading volume of 961,642 shares, compared to its average volume of 1,028,604. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 10.18 and a beta of 0.73. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.99 and a 1-year high of $25.17. The company’s 50 day simple moving average is $20.42 and its 200-day simple moving average is $21.71.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.20). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. During the same quarter last year, the company earned $0.61 earnings per share. As a group, analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 annualized dividend and a yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio is presently 101.66%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its position in 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 period. MTM Investment Management LLC purchased a new position in Sixth Street Specialty Lending in the second quarter worth $49,000. Advisory Services Network LLC purchased a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter valued at approximately $79,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter worth approximately $98,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on TSLX shares. Wells Fargo & Company lowered their price objective on shares of 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. Royal Bank Of Canada reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Truist Financial dropped 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 report on Tuesday, February 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $25.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Sixth Street Specialty Lending Company 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.