Insider Buying: Sixth Street Specialty Lending (NYSE:TSLX) VP Acquires 8,000 Shares of Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Ross Anthony Bruck acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the purchase, the vice president directly owned 18,250 shares in the company, valued at $324,120. This represents a 78.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX traded down $0.26 on Wednesday, hitting $17.38. 1,033,789 shares of the company traded hands, compared to its average volume of 930,043. The business’s 50 day moving average price is $18.33 and its 200-day moving average price is $20.27. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.99 and a 52-week high of $25.17. 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 $1.65 billion, a price-to-earnings ratio of 15.11 and a beta of 0.65.

Sixth Street Specialty Lending (NYSE:TSLX) last issued 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). Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $103.14 million. During the same quarter in the previous year, the company earned $0.58 EPS. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 1.76 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.68 annualized dividend and a yield of 9.7%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s payout ratio is currently 160.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caprock Group LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter worth approximately $1,478,000. Sound Income Strategies LLC grew its holdings in shares of Sixth Street Specialty Lending by 4.5% in the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock valued at $55,998,000 after purchasing an additional 108,708 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Sixth Street Specialty Lending by 25.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock worth $15,154,000 after purchasing an additional 135,789 shares during the last quarter. Tred Avon Family Wealth LLC purchased a new stake in Sixth Street Specialty Lending during the third quarter valued at $1,028,000. Finally, Van ECK Associates Corp raised its stake in Sixth Street Specialty Lending by 18.0% during the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after purchasing an additional 385,398 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSLX shares. Truist Financial lowered 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 report on Thursday, May 7th. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Citizens Jmp cut their price target on 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. Zacks Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. cut their target price on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.83.

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.