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

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price was down 0.6% on Wednesday . The stock traded as low as $21.23 and last traded at $21.29. Approximately 40,550 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 347,119 shares. The stock had previously closed at $21.41.

Analysts Set New Price Targets

TSLX has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Wells Fargo & Company reduced 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. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Up 0.5 %

The stock has a 50 day simple moving average of $20.57 and a 200-day simple moving average of $20.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market cap of $2.01 billion, a PE ratio of 10.33 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $0.60 earnings per share. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in Sixth Street Specialty Lending during the second quarter valued at approximately $70,000. Ridgewood Investments LLC bought a new position in Sixth Street Specialty Lending during the second quarter valued at approximately $77,000. Quarry LP boosted its stake in Sixth Street Specialty Lending by 378.3% during the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after buying an additional 3,238 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Sixth Street Specialty Lending during the third quarter valued at approximately $86,000. Finally, Atlas Capital Advisors LLC bought a new position in Sixth Street Specialty Lending during the second quarter valued at approximately $109,000. Institutional investors 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.