Sixth Street Specialty Lending, Inc. $TSLX Position Lowered by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 28.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,369 shares of the financial services provider’s stock after selling 57,565 shares during the period. Rockefeller Capital Management L.P. owned 0.16% of Sixth Street Specialty Lending worth $3,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC raised its position in shares of Sixth Street Specialty Lending by 673.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,508 shares in the last quarter. Advisory Services Network LLC acquired a new position in Sixth Street Specialty Lending in the third quarter worth $75,000. Redmont Wealth Advisors LLC boosted its holdings in Sixth Street Specialty Lending by 37.8% in the fourth quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,310 shares during the period. SG Americas Securities LLC bought a new stake in Sixth Street Specialty Lending during the fourth quarter valued at $108,000. Finally, Arax Advisory Partners bought a new stake in Sixth Street Specialty Lending during the fourth quarter valued at $109,000. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Stock Down 0.1%

Sixth Street Specialty Lending stock opened at $16.88 on Monday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 14.67 and a beta of 0.60. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $17.67 and its two-hundred day moving average price is $19.19. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.04 and a 52 week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. During the same period in the prior year, the company posted $0.58 earnings per share. On average, analysts expect that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.0%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date is Monday, June 15th. Sixth Street Specialty Lending’s payout ratio is currently 146.09%.

Insider Transactions at Sixth Street Specialty Lending

In other news, VP Ross Anthony Bruck purchased 8,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the transaction, the vice president owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.83% of the company’s stock.

Analysts Set New Price Targets

TSLX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wells Fargo & Company dropped their price objective on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on shares of Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings lowered Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.83.

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.