Canton Hathaway LLC Buys 32,780 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Canton Hathaway LLC increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 212.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 48,230 shares of the financial services provider’s stock after acquiring an additional 32,780 shares during the period. Canton Hathaway LLC’s holdings in Sixth Street Specialty Lending were worth $1,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in Sixth Street Specialty Lending by 25.3% during the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 465 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Sixth Street Specialty Lending by 1.2% in the first quarter. Cornerstone Wealth Management LLC now owns 46,732 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 548 shares during the period. Signaturefd LLC raised its stake in Sixth Street Specialty Lending by 13.3% in the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock valued at $100,000 after buying an additional 550 shares during the period. Dearborn Partners LLC raised its stake in Sixth Street Specialty Lending by 1.3% in the fourth quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider’s stock valued at $1,252,000 after buying an additional 763 shares during the period. Finally, Parallel Advisors LLC raised its stake in Sixth Street Specialty Lending by 4.3% in the first quarter. Parallel Advisors LLC now owns 20,708 shares of the financial services provider’s stock valued at $463,000 after buying an additional 848 shares during the period. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Up 0.4%

Shares of NYSE:TSLX opened at $23.16 on Friday. The company has a market capitalization of $2.18 billion, a P/E ratio of 12.25 and a beta of 0.83. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $23.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06. The business’s 50 day simple moving average is $21.95 and its 200 day simple moving average is $21.86.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $113.92 billion for the quarter, compared to the consensus estimate of $116.70 million. Sixth Street Specialty Lending had a return on equity of 13.60% and a net margin of 36.59%. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. This represents a yield of 9.21%. The ex-dividend date was Friday, May 30th. Sixth Street Specialty Lending’s payout ratio is presently 97.35%.

Analyst Ratings Changes

Several research firms have issued reports on TSLX. Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada upped their target price on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Raymond James Financial decreased their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, B. Riley assumed coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 target price on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Buy” and a consensus target price of $22.81.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.