Sixth Street Specialty Lending (NYSE:TSLX) Trading 0.9% Higher – What’s Next?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price traded up 0.9% on Monday . The stock traded as high as $20.97 and last traded at $20.97. 115,619 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 347,768 shares. The stock had previously closed at $20.78.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLX. Keefe, Bruyette & Woods cut 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 note on Thursday, November 7th. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Trading Up 1.2 %

The firm’s fifty day moving average price is $20.49 and its 200-day moving average price is $20.99. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.25 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The firm had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 EPS 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. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new position in Sixth Street Specialty Lending during the 1st quarter valued at $35,000. nVerses Capital LLC bought a new position in Sixth Street Specialty Lending during the second quarter valued at about $70,000. Ridgewood Investments LLC bought a new stake in Sixth Street Specialty Lending in the second quarter worth about $77,000. Quarry LP raised 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 acquiring an additional 3,238 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Sixth Street Specialty Lending during the 3rd quarter valued at about $86,000. 70.25% of the stock is currently owned by institutional investors.

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.