Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.3% – Should You Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price fell 0.3% during mid-day trading on Wednesday . The company traded as low as $21.39 and last traded at $21.39. 30,703 shares were traded during trading, a decline of 91% from the average session volume of 345,704 shares. The stock had previously closed at $21.46.

Wall Street Analyst Weigh In

TSLX has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. 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 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 target price on the stock in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Trading Down 0.2 %

The stock has a market cap of $2.00 billion, a PE ratio of 10.38 and a beta of 1.06. The company has a 50 day moving average of $20.68 and a two-hundred day moving average of $20.99. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50.

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

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be issued 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 payout ratio is currently 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently added to or reduced their stakes in TSLX. Franklin Resources Inc. boosted its position in shares of Sixth Street Specialty Lending by 28.3% in the third quarter. Franklin Resources Inc. now owns 327,083 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 72,133 shares during the last quarter. Tidal Investments LLC lifted its stake in Sixth Street Specialty Lending by 7.4% in the third quarter. Tidal Investments LLC now owns 50,883 shares of the financial services provider’s stock valued at $1,045,000 after buying an additional 3,504 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Sixth Street Specialty Lending by 6.3% in the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 1,441 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Sixth Street Specialty Lending during the third quarter worth approximately $708,000. Finally, Jane Street Group LLC grew its stake in shares of Sixth Street Specialty Lending by 29.1% in the 3rd quarter. Jane Street Group LLC now owns 49,373 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 11,117 shares during the last quarter. 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.