Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Receives Average Recommendation of “Moderate Buy” from Analysts

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $21.9375.

TSLX has been the topic of a number of recent research reports. Truist Financial reduced their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Royal Bank Of Canada lowered their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Wall Street Zen cut shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set a “neutral” rating for the company in a research note on Friday, March 13th.

Sixth Street Specialty Lending Price Performance

TSLX opened at $17.78 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.68 billion, a P/E ratio of 9.82 and a beta of 0.73. The stock has a 50-day moving average price of $19.83 and a 200-day moving average price of $21.38. Sixth Street Specialty Lending has a 12-month low of $16.99 and a 12-month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.20). The firm had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same period in the prior year, the business posted $0.61 earnings per share. Equities analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Sixth Street Specialty Lending’s payout ratio is currently 101.66%.

Insider Buying and Selling at Sixth Street Specialty Lending

In related news, VP Alan Waxman bought 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $18.47 per share, for a total transaction of $831,150.00. Following the acquisition, the vice president directly owned 545,000 shares of the company’s stock, valued at $10,066,150. The trade was a 9.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders bought 545,000 shares of company stock valued at $9,997,150. Insiders own 3.22% of the company’s stock.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of Sixth Street Specialty Lending by 419.5% during the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after purchasing an additional 1,845,088 shares during the period. Tectonic Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending in the third quarter worth $12,777,000. Van ECK Associates Corp raised its holdings in Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after buying an additional 385,398 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Sixth Street Specialty Lending by 105.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 624,196 shares of the financial services provider’s stock valued at $13,558,000 after buying an additional 319,665 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in Sixth Street Specialty Lending during the 4th quarter valued at $6,548,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.