Burgundy Asset Management Ltd. Has $56.64 Million Stake in Sixth Street Specialty Lending, Inc. $TSLX

Burgundy Asset Management Ltd. increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,378,968 shares of the financial services provider’s stock after buying an additional 31,922 shares during the quarter. Burgundy Asset Management Ltd. owned about 2.52% of Sixth Street Specialty Lending worth $56,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLX. MTM Investment Management LLC bought a new stake in Sixth Street Specialty Lending during the second quarter worth about $49,000. First Horizon Advisors Inc. raised its position in shares of Sixth Street Specialty Lending by 74.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after buying an additional 1,753 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Sixth Street Specialty Lending by 83.5% during the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,940 shares during the period. SVB Wealth LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $107,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in Sixth Street Specialty Lending in the second quarter valued at approximately $157,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLX has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. Royal Bank Of Canada dropped their price objective on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Wells Fargo & Company decreased their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Keefe, Bruyette & Woods lowered their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $24.00 price target on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Insider Activity

In other Sixth Street Specialty Lending news, CEO Robert J. Stanley purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were bought at an average price of $20.85 per share, for a total transaction of $208,500.00. Following the completion of the acquisition, the chief executive officer owned 24,907 shares in the company, valued at approximately $519,310.95. This trade represents a 67.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.22% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX opened at $22.28 on Friday. The business has a 50-day simple moving average of $21.81 and a two-hundred day simple moving average of $23.10. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $25.17. The stock has a market cap of $2.10 billion, a PE ratio of 10.92 and a beta of 0.70. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 1.13.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.35 million. Sixth Street Specialty Lending had a return on equity of 13.20% and a net margin of 41.24%.During the same period in the previous year, the business posted $0.57 earnings per share. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 90.20%.

Sixth Street Specialty Lending 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.