Melia Wealth LLC Purchases Shares of 486,337 Sixth Street Specialty Lending, Inc. $TSLX

Melia Wealth LLC acquired a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the second quarter, HoldingsChannel reports. The fund acquired 486,337 shares of the financial services provider’s stock, valued at approximately $8,350,000. Sixth Street Specialty Lending comprises 4.8% of Melia Wealth LLC’s holdings, making the stock its 12th largest position.

Several other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Sixth Street Specialty Lending by 8.0% during the first quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 9,230 shares during the period. Integrated Wealth Concepts LLC raised its stake in Sixth Street Specialty Lending by 38.5% in the first quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider’s stock valued at $370,000 after buying an additional 4,597 shares during the period. Invesco Ltd. raised its stake in Sixth Street Specialty Lending by 8.0% in the second quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock valued at $729,000 after buying an additional 2,263 shares during the period. Marshall Wace LLP lifted its position in shares of Sixth Street Specialty Lending by 186.6% in the second quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider’s stock valued at $1,805,000 after buying an additional 49,362 shares during the last quarter. Finally, Glenview Trust co bought a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth approximately $231,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a report on Monday, August 10th. JPMorgan Chase & Co. cut their price target on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Truist Financial decreased their price objective 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 reissued a “hold (c-)” rating on shares of Sixth Street Specialty Lending in a research report on Thursday, August 13th. Finally, Wells Fargo & Company cut 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 research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $18.74 on Friday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 19.73 and a beta of 0.59. The company has a current ratio of 9.83, a quick ratio of 9.83 and a debt-to-equity ratio of 1.24. Sixth Street Specialty Lending, Inc. has a 12 month low of $16.04 and a 12 month high of $24.79. The stock’s 50 day moving average is $17.67 and its 200-day moving average is $17.96.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The business had revenue of $97.84 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.56 EPS. Equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current year.

Sixth Street Specialty Lending Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.0%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 176.84%.

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.