Legacy Capital Wealth Partners LLC Sells 77,667 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Legacy Capital Wealth Partners LLC lessened its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 53.7% in the 4th quarter, Holdings Channel reports. The firm owned 67,031 shares of the financial services provider’s stock after selling 77,667 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Sixth Street Specialty Lending were worth $1,428,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Sixth Street Specialty Lending by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock valued at $50,972,000 after purchasing an additional 103,634 shares in the last quarter. Essex Financial Services Inc. bought a new stake in Sixth Street Specialty Lending in the fourth quarter valued at approximately $387,000. Wealthstar Advisors LLC bought a new stake in Sixth Street Specialty Lending in the fourth quarter valued at approximately $2,782,000. Wilmington Savings Fund Society FSB bought a new stake in Sixth Street Specialty Lending in the fourth quarter valued at approximately $662,000. Finally, Platform Technology Partners increased its stake in Sixth Street Specialty Lending by 3.5% in the fourth quarter. Platform Technology Partners now owns 28,925 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 980 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $22.97 on Friday. Sixth Street Specialty Lending, Inc. has a 12 month low of $19.50 and a 12 month high of $23.15. The firm has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $21.02. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.15 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 (NYSE:TSLX) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $120.07 million. Research analysts forecast 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, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.07 per share. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.28 annualized dividend and a yield of 1.22%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

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.