SCS Capital Management LLC Invests $11.88 Million in Sixth Street Specialty Lending, Inc. $TSLX

SCS Capital Management LLC bought a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 692,199 shares of the financial services provider’s stock, valued at approximately $11,885,000.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp acquired a new position in Sixth Street Specialty Lending in the first quarter worth about $63,000. Advisory Services Network LLC acquired a new stake in Sixth Street Specialty Lending during the third quarter valued at approximately $75,000. Redmont Wealth Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 37.8% during the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,310 shares during the last quarter. SG Americas Securities LLC bought a new position in Sixth Street Specialty Lending during the 4th quarter worth approximately $108,000. Finally, Arax Advisory Partners bought a new position in Sixth Street Specialty Lending during the 4th quarter worth approximately $109,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $18.81 on Monday. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average of $17.32 and a two-hundred day moving average of $18.12. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.04 and a 52 week high of $24.79. The company has a market cap of $1.79 billion, a P/E ratio of 19.80 and a beta of 0.59.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.28 million. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.During the same period in the prior year, the company earned $0.56 earnings per share. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.73 EPS for the current year.

Sixth Street Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.68 dividend on an annualized basis and a yield of 8.9%. Sixth Street Specialty Lending’s payout ratio is currently 176.84%.

Analysts Set New Price Targets

TSLX has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada reduced 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. Truist Financial decreased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Citizens Jmp lowered their target price on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Profile

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.