Sixth Street Specialty Lending (NYSE:TSLX) Coverage Initiated at B. Riley

B. Riley began coverage on shares of Sixth Street Specialty Lending (NYSE:TSLX) in a report released on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $23.00 price target on the financial services provider’s stock. B. Riley’s price target points to a potential upside of 2.27% from the stock’s current price.

Several other equities analysts also recently weighed in on TSLX. Truist Financial raised their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Raymond James dropped their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and an average price target of $22.81.

Sixth Street Specialty Lending Stock Up 1.0%

Shares of NYSE TSLX opened at $22.49 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. Sixth Street Specialty Lending has a 52 week low of $18.58 and a 52 week high of $23.67. The firm has a 50-day moving average price of $21.23 and a 200 day moving average price of $21.42. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 11.08 and a beta of 0.82.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same period last year, the firm posted $0.52 EPS. Equities research analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently bought and sold shares of the stock. Truvestments Capital LLC grew its holdings in Sixth Street Specialty Lending by 53.7% in the first quarter. Truvestments Capital LLC now owns 195,348 shares of the financial services provider’s stock valued at $4,372,000 after purchasing an additional 68,283 shares during the period. SVB Wealth LLC purchased a new stake in Sixth Street Specialty Lending in the first quarter valued at approximately $107,000. Texas Capital Bank Wealth Management Services Inc grew its holdings in Sixth Street Specialty Lending by 8.6% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 139,805 shares of the financial services provider’s stock valued at $3,129,000 after purchasing an additional 11,111 shares during the period. Burgundy Asset Management Ltd. grew its holdings in Sixth Street Specialty Lending by 7.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider’s stock valued at $52,527,000 after purchasing an additional 154,560 shares during the period. Finally, Ethos Financial Group LLC acquired a new position in Sixth Street Specialty Lending during the first quarter valued at approximately $904,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.