Sixth Street Specialty Lending (NYSE:TSLX) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01, FiscalAI reports. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The firm had revenue of $97.84 million during the quarter, compared to analysts’ expectations of $95.28 million.

Sixth Street Specialty Lending Stock Up 1.6%

Shares of Sixth Street Specialty Lending stock traded up $0.29 on Tuesday, hitting $18.01. The company had a trading volume of 527,689 shares, compared to its average volume of 822,162. The firm has a market capitalization of $1.71 billion, a P/E ratio of 15.66 and a beta of 0.59. Sixth Street Specialty Lending has a twelve month low of $16.04 and a twelve month high of $24.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a 50-day moving average of $17.10 and a 200-day moving average of $18.35.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSLX. Truist Financial reduced their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Royal Bank Of Canada dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company decreased their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three 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 a consensus price target of $19.67.

Insider Activity at Sixth Street Specialty Lending

In related news, VP Ross Anthony Bruck acquired 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the acquisition, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. The trade was a 78.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Arax Advisory Partners bought a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth about $109,000. Atlas Capital Advisors Inc. bought a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth about $111,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Sixth Street Specialty Lending in the 4th quarter valued at approximately $118,000. Finally, Glenview Trust co acquired a new stake in Sixth Street Specialty Lending in the 2nd quarter valued at approximately $231,000. Institutional investors own 70.25% of the company’s stock.

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.