Riverbridge Partners LLC Has $2.64 Million Stock Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Riverbridge Partners LLC grew its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 59.8% in the first quarter, HoldingsChannel.com reports. The fund owned 143,704 shares of the financial services provider’s stock after acquiring an additional 53,766 shares during the quarter. Riverbridge Partners LLC’s holdings in Sixth Street Specialty Lending were worth $2,641,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Harbor Investment Advisory LLC raised its stake in Sixth Street Specialty Lending by 673.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,508 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $75,000. Redmont Wealth Advisors LLC boosted its holdings in shares of Sixth Street Specialty Lending by 37.8% in the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,310 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth $108,000. Finally, Arax Advisory Partners acquired a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth $109,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLX. Weiss Ratings downgraded Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. 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 note on Thursday, May 7th. Wall Street Zen lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $16.48 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.57 billion, a PE ratio of 14.33 and a beta of 0.60. Sixth Street Specialty Lending, Inc. has a 12 month low of $16.23 and a 12 month high of $25.17. The stock has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $19.31.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.58 earnings per share. Analysts expect that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given 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 10.2%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio is 146.09%.

Insiders Place Their Bets

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of Sixth Street Specialty Lending stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $17.76 per share, with a total value of $142,080.00. Following the acquisition, the vice president directly owned 18,250 shares of the company’s stock, valued at $324,120. The trade was a 78.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.83% of the stock is owned by insiders.

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.