Sixth Street Specialty Lending (NYSE:TSLX) Upgraded to “Buy” at LADENBURG THALM/SH SH

Sixth Street Specialty Lending (NYSE:TSLX) was upgraded by equities researchers at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $21.00 target price on the financial services provider’s stock. LADENBURG THALM/SH SH’s price target suggests a potential upside of 6.09% from the company’s previous close.

Several other brokerages have also recently issued reports on TSLX. Wells Fargo & Company decreased their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Stock Down 2.3 %

Shares of NYSE:TSLX opened at $19.80 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 1.90 and a debt-to-equity ratio of 1.17. The stock has a fifty day simple moving average of $20.66 and a two-hundred day simple moving average of $21.07. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.61 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate 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 company earned $0.60 earnings per share. On average, research analysts anticipate that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TSLX. Van ECK Associates Corp grew its position in Sixth Street Specialty Lending by 18.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after purchasing an additional 336,596 shares during the period. Millennium Management LLC boosted its stake in shares of Sixth Street Specialty Lending by 482.6% in the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after buying an additional 237,995 shares during the last quarter. TrueMark Investments LLC purchased a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth $4,378,000. Baillie Gifford & Co. increased its position in Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock valued at $8,755,000 after acquiring an additional 184,634 shares during the last quarter. Finally, Significant Wealth Partners LLC lifted its holdings in Sixth Street Specialty Lending by 949.8% in the first quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock valued at $4,348,000 after acquiring an additional 183,571 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

About Sixth Street Specialty Lending

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.