Sixth Street Specialty Lending (NYSE:TSLX) Shares Down 0.6% – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) traded down 0.6% during trading on Tuesday . The stock traded as low as $20.46 and last traded at $20.52. 62,632 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 345,085 shares. The stock had previously closed at $20.65.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.3 %

The firm has a market capitalization of $1.93 billion, a PE ratio of 9.96 and a beta of 1.06. The business’s fifty day moving average price is $20.74 and its 200 day moving average price is $20.97. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

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. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds have recently made changes to their positions in TSLX. nVerses Capital LLC purchased a new stake in shares of Sixth Street Specialty Lending during the second quarter worth about $70,000. Ridgewood Investments LLC acquired a new stake in shares of Sixth Street Specialty Lending during the second quarter worth approximately $77,000. Quarry LP raised its holdings in 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 acquiring an additional 3,238 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Sixth Street Specialty Lending during the 3rd quarter valued at $86,000. Finally, Atlas Capital Advisors LLC acquired a new position in Sixth Street Specialty Lending in the second quarter worth about $109,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.