Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.06 and traded as low as $17.40. Sixth Street Specialty Lending shares last traded at $17.4660, with a volume of 654,975 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings lowered Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Truist Financial reduced 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 report on Thursday, May 7th. JPMorgan Chase & Co. reduced their price objective on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company reduced 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 report on Thursday, May 7th. Finally, Citizens Jmp reduced their price objective on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Price Performance

The company has a market capitalization of $1.63 billion, a PE ratio of 14.93 and a beta of 0.65. The firm has a fifty day moving average of $18.22 and a two-hundred day moving average of $20.01. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same quarter in the prior year, the company earned $0.58 earnings per share. Research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, June 15th. This represents a $1.68 annualized dividend and a yield of 9.8%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 160.00%.

Insider Activity at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck acquired 8,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the acquisition, the vice president owned 18,250 shares in the company, valued at $324,120. This represents a 78.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Alan Waxman acquired 45,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $18.47 per share, with a total value of $831,150.00. Following the acquisition, the vice president owned 545,000 shares in the company, valued at approximately $10,066,150. This trade represents a 9.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 553,000 shares of company stock valued at $10,139,230. Company insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its holdings in Sixth Street Specialty Lending by 2.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider’s stock worth $534,000 after buying an additional 505 shares during the period. Lido Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 1.2% in the 4th quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock worth $958,000 after buying an additional 506 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Sixth Street Specialty Lending by 5.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock worth $218,000 after buying an additional 532 shares during the period. IFG Advisory LLC raised its position in shares of Sixth Street Specialty Lending by 2.7% in the 3rd quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 551 shares in the last quarter. Finally, Family Wealth Partners LLC raised its position in shares of Sixth Street Specialty Lending by 2.5% in the 4th quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 602 shares in the last quarter. Hedge funds and other 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.