Wells Fargo & Company Cuts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $21.00

Sixth Street Specialty Lending (NYSE:TSLX) had its target price decreased by Wells Fargo & Company from $22.00 to $21.00 in a report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.42.

Sixth Street Specialty Lending Trading Down 0.0 %

Shares of NYSE:TSLX opened at $20.40 on Tuesday. Sixth Street Specialty Lending has a 52-week low of $19.33 and a 52-week high of $22.35. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 8.22 and a beta of 1.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $20.76 and a 200-day moving average price of $21.09.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The firm had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. During the same period last year, the business posted $0.58 earnings per share. Equities analysts predict that Sixth Street Specialty Lending will post 2.31 EPS for the current year.

Insider Buying and Selling

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin acquired 7,015 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $19.90 per share, with a total value of $139,598.50. Following the completion of the acquisition, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is owned by corporate insiders.

Institutional Trading of Sixth Street Specialty Lending

Several institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC grew its holdings in Sixth Street Specialty Lending by 1.3% in the third quarter. Confluence Investment Management LLC now owns 249,909 shares of the financial services provider’s stock valued at $5,131,000 after purchasing an additional 3,250 shares during the period. Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after acquiring an additional 141,463 shares during the last quarter. Financial Advocates Investment Management boosted its stake in shares of Sixth Street Specialty Lending by 6.6% in the third quarter. Financial Advocates Investment Management now owns 151,985 shares of the financial services provider’s stock worth $3,120,000 after acquiring an additional 9,350 shares during the last quarter. Grimes & Company Inc. boosted its stake in shares of Sixth Street Specialty Lending by 16.4% in the third quarter. Grimes & Company Inc. now owns 18,400 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 2,591 shares during the last quarter. Finally, Romano Brothers AND Company boosted its stake in shares of Sixth Street Specialty Lending by 50.8% in the third quarter. Romano Brothers AND Company now owns 26,700 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 9,000 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.