LGT Capital Partners LTD. Sells 58,500 Shares of Sixth Street Specialty Lending, Inc. $TSLX

LGT Capital Partners LTD. cut its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 14.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,500 shares of the financial services provider’s stock after selling 58,500 shares during the period. LGT Capital Partners LTD.’s holdings in Sixth Street Specialty Lending were worth $8,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Sixth Street Specialty Lending by 74.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock worth $98,000 after buying an additional 1,753 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Sixth Street Specialty Lending in the first quarter worth about $107,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth about $117,000. Focus Partners Advisor Solutions LLC bought a new stake in Sixth Street Specialty Lending during the 1st quarter valued at approximately $201,000. Finally, LexAurum Advisors LLC purchased a new position in Sixth Street Specialty Lending in the 2nd quarter worth approximately $201,000. Institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLX shares. Wells Fargo & Company reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. JMP Securities boosted their price target on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods 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 Thursday, November 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.63.

Sixth Street Specialty Lending Stock Performance

Sixth Street Specialty Lending stock opened at $21.28 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The firm has a market capitalization of $2.01 billion, a P/E ratio of 10.59 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a 1-year low of $18.58 and a 1-year high of $25.17. The company’s 50-day moving average is $22.45 and its 200 day moving average is $23.10.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $109.40 million for the quarter, compared to analysts’ expectations of $108.35 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same period in the prior year, the business posted $0.57 earnings per share. Research 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Sixth Street Specialty Lending’s dividend payout ratio is currently 90.20%.

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.