Sixth Street Specialty Lending (NYSE:TSLX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a sell rating to a hold rating in a research note issued to investors on Saturday.

TSLX has been the topic of several other reports. Truist Financial lowered their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada reduced their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Wells Fargo & Company lowered their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Keefe, Bruyette & Woods dropped their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Finally, Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.94.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $18.40 on Friday. The firm has a 50-day simple moving average of $19.00 and a 200-day simple moving average of $20.93. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.17 and a beta of 0.66. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. Sixth Street Specialty Lending has a 52 week low of $16.99 and a 52 week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.20). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The business had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $107.11 million. During the same period in the prior year, the business posted $0.61 earnings per share. On average, equities analysts predict that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio is presently 101.66%.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Alan Waxman bought 45,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $18.47 per share, with a total value of $831,150.00. Following the completion of the purchase, the vice president directly owned 545,000 shares in the company, valued at $10,066,150. The trade was a 9.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 545,000 shares of company stock worth $9,997,150 over the last ninety days. 3.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC boosted its stake in Sixth Street Specialty Lending by 16.0% during the fourth quarter. Corient Private Wealth LLC now owns 78,237 shares of the financial services provider’s stock worth $1,699,000 after buying an additional 10,765 shares during the period. Beacon Pointe Advisors LLC lifted its holdings in shares of Sixth Street Specialty Lending by 23.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 62,519 shares of the financial services provider’s stock worth $1,358,000 after acquiring an additional 12,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $475,000. Millennium Management LLC acquired a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $744,000. Finally, IHT Wealth Management LLC boosted its position in shares of Sixth Street Specialty Lending by 2.1% during the 4th quarter. IHT Wealth Management LLC now owns 110,074 shares of the financial services provider’s stock worth $2,391,000 after purchasing an additional 2,265 shares during the period. 70.25% of the stock is currently owned by hedge funds and other 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.