Sixth Street Specialty Lending (NYSE:TSLX) Price Target Cut to $18.50 by Analysts at JPMorgan Chase & Co.

Sixth Street Specialty Lending (NYSE:TSLX) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $21.00 to $18.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.69% from the stock’s previous close.

A number of other analysts also recently issued reports on TSLX. Keefe, Bruyette & Woods dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Citizens Jmp reissued a “market outperform” rating and issued a $25.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Truist Financial cut their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.94.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX traded down $0.20 during mid-day trading on Friday, hitting $17.84. 546,761 shares of the company’s stock traded hands, compared to its average volume of 1,032,646. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $21.66. Sixth Street Specialty Lending has a 1 year low of $16.99 and a 1 year high of $25.17. The company has a market cap of $1.69 billion, a PE ratio of 9.85 and a beta of 0.73.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.20). The company had revenue of $108.25 million during the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same period last year, the firm earned $0.61 earnings per share. Sell-side analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Insiders Place Their Bets

In other news, VP Alan Waxman acquired 45,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $18.47 per share, for a total transaction of $831,150.00. Following the completion of the purchase, the vice president directly owned 545,000 shares of the company’s stock, valued at $10,066,150. This represents a 9.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 545,000 shares of company stock valued at $9,997,150 over the last three months. 3.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC boosted its holdings in shares of Sixth Street Specialty Lending by 2.2% during the third quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 505 shares during the period. Lido Advisors LLC lifted its position in 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 valued at $958,000 after purchasing an additional 506 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in 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 during the period. IFG Advisory LLC boosted its stake in 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 during the period. Finally, Family Wealth Partners LLC grew its position in Sixth Street Specialty Lending by 2.5% in the 4th quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 602 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Company 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.