Van ECK Associates Corp Has $57.82 Million Position in Sixth Street Specialty Lending, Inc. $TSLX

Van ECK Associates Corp lifted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 18.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,529,187 shares of the financial services provider’s stock after purchasing an additional 385,398 shares during the quarter. Van ECK Associates Corp owned about 2.68% of Sixth Street Specialty Lending worth $57,817,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position 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 worth $534,000 after acquiring an additional 505 shares in the last quarter. IFG Advisory LLC lifted its position in Sixth Street Specialty Lending by 2.7% in the 3rd quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 551 shares in the last quarter. Ellsworth Advisors LLC lifted its position in Sixth Street Specialty Lending by 3.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 30,938 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 1,123 shares in the last quarter. Tidal Investments LLC boosted its stake in Sixth Street Specialty Lending by 2.2% in the 2nd quarter. Tidal Investments LLC now owns 53,219 shares of the financial services provider’s stock worth $1,267,000 after purchasing an additional 1,168 shares during the period. Finally, HB Wealth Management LLC boosted its stake in Sixth Street Specialty Lending by 1.5% in the 3rd quarter. HB Wealth Management LLC now owns 77,376 shares of the financial services provider’s stock worth $1,769,000 after purchasing an additional 1,170 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Alan Waxman bought 200,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $18.42 per share, for a total transaction of $3,684,000.00. Following the completion of the acquisition, the vice president owned 300,000 shares in the company, valued at approximately $5,526,000. This represents a 200.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

TSLX has been the topic of several recent research reports. Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods decreased their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Truist Financial dropped their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut their target price on Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Finally, 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. One 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’s stock. According to data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $18.44 on Wednesday. The business’s 50-day simple moving average is $20.42 and its 200 day simple moving average is $21.71. 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 debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.75 billion, a PE ratio of 10.19 and a beta of 0.73.

Sixth Street Specialty Lending (NYSE:TSLX) last posted 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 the consensus estimate of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, sell-side analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 101.66%.

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.