JPMorgan Chase & Co. Purchases 50,946 Shares of Sixth Street Specialty Lending, Inc. $TSLX

JPMorgan Chase & Co. grew its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 993,735 shares of the financial services provider’s stock after purchasing an additional 50,946 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.05% of Sixth Street Specialty Lending worth $22,717,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Progeny 3 Inc. lifted its holdings in Sixth Street Specialty Lending by 1.0% in the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after buying an additional 23,451 shares during the period. Burgundy Asset Management Ltd. raised its position in shares of Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock worth $56,643,000 after acquiring an additional 31,922 shares in the last quarter. Ares Management LLC boosted its position in shares of Sixth Street Specialty Lending by 2.2% during the 2nd quarter. Ares Management LLC now owns 1,402,689 shares of the financial services provider’s stock valued at $33,398,000 after purchasing an additional 30,000 shares in the last quarter. Muzinich & Co. Inc. grew its stake in Sixth Street Specialty Lending by 22.7% during the third quarter. Muzinich & Co. Inc. now owns 746,958 shares of the financial services provider’s stock worth $17,075,000 after purchasing an additional 138,342 shares during the period. Finally, Advisors Capital Management LLC grew its stake in Sixth Street Specialty Lending by 1.9% during the second quarter. Advisors Capital Management LLC now owns 718,338 shares of the financial services provider’s stock worth $17,104,000 after purchasing an additional 13,730 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLX has been the topic of a number of research analyst reports. Truist Financial cut their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. JPMorgan Chase & Co. decreased their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $17.34 on Monday. Sixth Street Specialty Lending, Inc. has a 1-year low of $17.28 and a 1-year high of $25.17. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 9.58 and a beta of 0.73. The company’s fifty day moving average price is $20.89 and its two-hundred day moving average price is $22.00. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.20). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The business had revenue of $108.25 million for the quarter, compared to the consensus estimate of $107.11 million. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 101.66%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.