Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Given Average Rating of “Moderate Buy” by Analysts

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.6667.

Several research firms recently commented on TSLX. Truist Financial dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Citizens Jmp lowered their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings cut Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company lowered their price objective on 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.

Insider Activity at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck purchased 8,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. This represents a 78.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth $63,000. Advisory Services Network LLC purchased a new position in shares of Sixth Street Specialty Lending in the third quarter valued at $75,000. Redmont Wealth Advisors LLC raised its stake in shares of Sixth Street Specialty Lending by 37.8% during the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,310 shares during the period. SG Americas Securities LLC bought a new stake in shares of Sixth Street Specialty Lending during the 4th quarter valued at $108,000. Finally, Arax Advisory Partners purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $109,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $16.73 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 14.55 and a beta of 0.59. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $24.79. The firm’s 50-day simple moving average is $17.10 and its two-hundred day simple moving average is $18.55.

Sixth Street Specialty Lending (NYSE:TSLX) last released its 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 net margin of 25.25% and a return on equity of 11.92%. The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $103.14 million. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, equities analysts forecast that Sixth Street Specialty Lending will post 1.72 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 10.0%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Monday, June 15th. Sixth Street Specialty Lending’s payout ratio is presently 146.09%.

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.