Sixth Street Specialty Lending (NYSE:TSLX) Shares Gap Down to $21.40

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares gapped down prior to trading on Monday . The stock had previously closed at $21.40, but opened at $20.92. Sixth Street Specialty Lending shares last traded at $20.90, with a volume of 94,228 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Sixth Street Specialty Lending Trading Down 2.7 %

The firm has a market capitalization of $1.94 billion, a P/E ratio of 8.63 and a beta of 1.06. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50 day moving average price of $21.07 and a two-hundred day moving average price of $21.20.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $121.82 million during the quarter, compared to analyst estimates of $120.33 million. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. During the same period last year, the company posted $0.58 EPS. On average, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Monday, September 16th. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin bought 7,015 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $19.90 per share, with a total value of $139,598.50. Following the completion of the transaction, the director now directly owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by insiders.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors have recently bought and sold shares of TSLX. EntryPoint Capital LLC bought a new position in Sixth Street Specialty Lending during the first quarter valued at about $35,000. Cape Investment Advisory Inc. bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at about $65,000. Security National Bank bought a new position in shares of Sixth Street Specialty Lending in the fourth quarter worth about $68,000. nVerses Capital LLC bought a new position in shares of Sixth Street Specialty Lending in the second quarter worth about $70,000. Finally, Ridgewood Investments LLC bought a new position in shares of Sixth Street Specialty Lending in the second quarter worth about $77,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.