COFG Advisors LLC Takes Position in Sixth Street Specialty Lending, Inc. $TSLX

COFG Advisors LLC acquired a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,761 shares of the financial services provider’s stock, valued at approximately $646,000.

Other large investors have also modified their holdings of the company. Caprock Group LLC acquired a new stake in shares of Sixth Street Specialty Lending in the third quarter valued at approximately $1,478,000. Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending by 4.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after purchasing an additional 108,708 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Sixth Street Specialty Lending by 18.0% during the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock worth $57,817,000 after purchasing an additional 385,398 shares during the period. Tectonic Advisors LLC lifted its holdings in shares of Sixth Street Specialty Lending by 10.5% during the fourth quarter. Tectonic Advisors LLC now owns 617,476 shares of the financial services provider’s stock worth $13,412,000 after purchasing an additional 58,538 shares during the period. Finally, Stratos Wealth Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending during the fourth quarter worth $4,129,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Ross Anthony Bruck purchased 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the transaction, the vice president directly owned 18,250 shares in the company, valued at $324,120. This represents a 78.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, VP Alan Waxman purchased 200,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $18.18 per share, with a total value of $3,636,000.00. Following the transaction, the vice president owned 500,000 shares of the company’s stock, valued at approximately $9,090,000. This represents a 66.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 553,000 shares of company stock valued at $10,139,230. Company insiders own 3.83% of the company’s stock.

Analyst Ratings Changes

TSLX has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada decreased their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Truist Financial decreased their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Zacks Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.83.

Sixth Street Specialty Lending Trading Up 4.6%

NYSE:TSLX opened at $18.02 on Tuesday. The stock has a fifty day moving average price of $18.14 and a two-hundred day moving average price of $19.82. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.67 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. Sixth Street Specialty Lending, Inc. has a 1 year low of $16.96 and a 1 year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same quarter in the previous year, the company posted $0.58 EPS. As a group, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.42 dividend. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Monday, June 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 146.09%.

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.