Y Intercept Hong Kong Ltd Makes New Investment in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,502 shares of the financial services provider’s stock, valued at approximately $708,000.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $70,000. Ridgewood Investments LLC acquired a new position in shares of Sixth Street Specialty Lending in the second quarter valued at $77,000. Quarry LP lifted its position 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 worth $84,000 after purchasing an additional 3,238 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Sixth Street Specialty Lending during the third quarter worth $86,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the second quarter worth $109,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $21.37 on Friday. The stock has a market capitalization of $1.99 billion, a P/E ratio of 10.37 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.50 and a 1 year high of $22.35. The firm has a 50 day moving average of $20.72 and a 200-day moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.60 EPS. As a group, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 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. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is 89.32%.

Analysts Set New Price Targets

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

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.