Sixth Street Specialty Lending (NYSE:TSLX) Releases Quarterly Earnings Results

Sixth Street Specialty Lending (NYSE:TSLX) released its earnings results on Tuesday. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01, Zacks reports. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same quarter in the previous year, the business earned $0.57 EPS.

Sixth Street Specialty Lending Stock Down 1.3%

NYSE:TSLX traded down $0.29 during mid-day trading on Tuesday, reaching $22.35. The company’s stock had a trading volume of 327,246 shares, compared to its average volume of 476,586. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending has a 1 year low of $18.58 and a 1 year high of $25.17. The stock has a fifty day moving average of $22.96 and a 200-day moving average of $23.10. The firm has a market capitalization of $2.11 billion, a PE ratio of 11.12 and a beta of 0.85.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JMP Securities boosted their price objective on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $24.00 target price on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. Wells Fargo & Company boosted their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.56.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently made changes to their positions in TSLX. Royal Bank of Canada grew its stake in Sixth Street Specialty Lending by 8.0% in the first quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider’s stock valued at $2,780,000 after purchasing an additional 9,230 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Sixth Street Specialty Lending by 38.5% during 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 last quarter. Invesco Ltd. boosted its holdings in shares of Sixth Street Specialty Lending by 8.0% in the 2nd 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 in the last quarter. Marshall Wace LLP grew its position in shares of Sixth Street Specialty Lending by 186.6% in the 2nd quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider’s stock worth $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 hedge funds and other institutional investors.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.