Closed End Fund Advisors Inc. Buys New Position in Sixth Street Specialty Lending, Inc. $TSLX

Closed End Fund Advisors Inc. bought a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,249 shares of the financial services provider’s stock, valued at approximately $744,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC lifted its stake in shares of 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 acquiring an additional 506 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Sixth Street Specialty Lending by 5.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 532 shares in the last quarter. IFG Advisory LLC boosted its position in shares of Sixth Street Specialty Lending by 2.7% during the 3rd quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 551 shares in the last quarter. Family Wealth Partners LLC boosted its holdings in shares of Sixth Street Specialty Lending by 2.5% in the fourth quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock worth $540,000 after buying an additional 602 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 5.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,923 shares of the financial services provider’s stock worth $259,000 after buying an additional 626 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of 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 decreased their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating for the company in a report on Thursday, May 7th. Zacks Research cut shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Truist Financial decreased their target price 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. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $17.41 on Friday. The company has a 50-day moving average of $18.11 and a two-hundred day moving average of $19.72. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 15.13 and a beta of 0.60. Sixth Street Specialty Lending, Inc. has a one year low of $16.96 and a one year high of $25.17.

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

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.7%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Monday, June 15th. Sixth Street Specialty Lending’s payout ratio 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 business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the transaction, the vice president owned 18,250 shares in the company, valued at $324,120. The trade was a 78.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Alan Waxman acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $18.18 per share, for a total transaction of $3,636,000.00. Following the transaction, the vice president owned 500,000 shares of the company’s stock, valued at approximately $9,090,000. This represents a 66.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 253,000 shares of company stock worth $4,609,230. Insiders own 3.83% of the company’s stock.

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.