Sixth Street Specialty Lending (NYSE:TSLX) Sets New 1-Year Low – What’s Next?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price reached a new 52-week low on Wednesday . The company traded as low as $16.23 and last traded at $16.48, with a volume of 695183 shares changing hands. The stock had previously closed at $16.25.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSLX shares. Weiss Ratings downgraded 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 cut their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp dropped their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.83.

Sixth Street Specialty Lending Stock Down 2.9%

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 firm has a market capitalization of $1.54 billion, a P/E ratio of 14.08 and a beta of 0.60. The stock’s 50-day simple moving average is $17.71 and its 200-day simple moving average is $19.23.

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

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared 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. This represents a $1.68 dividend on an annualized basis and a yield of 10.4%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date is Monday, June 15th. 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 acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at $324,120. This trade represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the business. Quantum Portfolio Management LLC bought a new position in Sixth Street Specialty Lending during the first quarter valued at about $273,434,000. Strs Ohio raised its position in Sixth Street Specialty Lending by 101.8% in the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after acquiring an additional 2,193,551 shares during the period. Sound Income Strategies LLC boosted its stake in Sixth Street Specialty Lending by 2.4% in the first quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock valued at $46,562,000 after acquiring an additional 59,937 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after acquiring an additional 385,398 shares during the period. Finally, Progeny 3 Inc. grew its position in shares of Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares during the period. 70.25% of the stock is currently owned by institutional investors.

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.