Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 34.3% in the first quarter, HoldingsChannel.com reports. The fund owned 47,243 shares of the financial services provider’s stock after selling 24,700 shares during the period. Riverbridge Partners LLC’s holdings in Sixth Street Specialty Lending were worth $1,057,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at about $182,000. Cornerstone Wealth Management LLC raised its position in shares of 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 last quarter. Janney Montgomery Scott LLC raised its position in shares of Sixth Street Specialty Lending by 108.5% in the first quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider’s stock valued at $6,196,000 after buying an additional 144,096 shares during the last quarter. Columbus Macro LLC raised its position in shares of Sixth Street Specialty Lending by 8.1% in the first quarter. Columbus Macro LLC now owns 389,272 shares of the financial services provider’s stock valued at $8,712,000 after buying an additional 29,219 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Sixth Street Specialty Lending by 2.4% in the first quarter. Sound Income Strategies LLC now owns 2,361,139 shares of the financial services provider’s stock valued at $52,842,000 after buying an additional 55,767 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLX shares. Royal Bank Of Canada increased their target price on shares of 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. Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. B. Riley began coverage on shares of Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 target price for the company. Raymond James Financial dropped their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.81.

Sixth Street Specialty Lending Trading Up 0.4%

Shares of TSLX opened at $23.16 on Friday. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.15. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $23.75. The firm has a 50-day moving average price of $21.95 and a 200 day moving average price of $21.86. The firm 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 (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $113.92 billion during the quarter, compared to analyst estimates of $116.70 million. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

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.