Sixth Street Specialty Lending, Inc. $TSLX Shares Acquired by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC grew its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 233.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 969,599 shares of the financial services provider’s stock after buying an additional 678,646 shares during the period. Sixth Street Specialty Lending accounts for 0.8% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Rivernorth Capital Management LLC’s holdings in Sixth Street Specialty Lending were worth $16,648,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Burk Holdings LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter worth about $51,000. Advisory Services Network LLC purchased a new stake in Sixth Street Specialty Lending in the 3rd quarter worth approximately $75,000. Fifth Third Bancorp purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth $63,000. Redmont Wealth Advisors LLC boosted its holdings in shares of Sixth Street Specialty Lending by 37.8% during the fourth quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending in the second quarter valued at $83,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $18.75 on Monday. The firm’s 50 day moving average is $17.71 and its two-hundred day moving average is $17.95. The firm has a market capitalization of $1.78 billion, a P/E ratio of 19.74 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 52 week low of $16.04 and a 52 week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The business had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.28 million. During the same period in the prior year, the company posted $0.56 EPS. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.74 earnings per share for the current year.

Sixth Street Specialty Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending’s payout ratio is 176.84%.

Wall Street Analyst Weigh In

TSLX has been the topic of a number of research analyst reports. Wall Street Zen raised Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sixth Street Specialty Lending in a research report on Thursday, August 13th. 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 research note on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.