Advisor Group Holdings Inc. reduced its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) by 36.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,055 shares of the financial services provider's stock after selling 22,235 shares during the period. Advisor Group Holdings Inc. owned 0.05% of Sixth Street Specialty Lending worth $592,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Allworth Financial LP bought a new position in Sixth Street Specialty Lending during the 1st quarter worth $26,000. UMB Bank N A MO bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth about $40,000. Nauset Wealth Management. LLC bought a new position in shares of Sixth Street Specialty Lending in the 1st quarter worth about $71,000. Lindbrook Capital LLC raised its position in shares of Sixth Street Specialty Lending by 302.2% in the 1st quarter. Lindbrook Capital LLC now owns 4,022 shares of the financial services provider's stock worth $94,000 after acquiring an additional 3,022 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. raised its position in shares of Sixth Street Specialty Lending by 72.5% in the 1st quarter. Total Clarity Wealth Management Inc. now owns 8,820 shares of the financial services provider's stock worth $205,000 after acquiring an additional 3,708 shares in the last quarter. 47.04% of the stock is owned by institutional investors.
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Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on TSLX shares. Hovde Group lowered their price objective on Sixth Street Specialty Lending to $21.00 in a research report on Friday, May 20th. TheStreet lowered Sixth Street Specialty Lending from a "b-" rating to a "c" rating in a research report on Thursday, August 11th. Finally, Raymond James reduced their target price on Sixth Street Specialty Lending from $25.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.38.
Sixth Street Specialty Lending Stock Performance
Shares of TSLX opened at $19.23 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a 50-day moving average of $18.94 and a 200-day moving average of $21.05. The company has a market cap of $1.56 billion, a PE ratio of 11.80 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a one year low of $18.02 and a one year high of $24.74.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The business had revenue of $63.89 million during the quarter, compared to the consensus estimate of $69.95 million. Sixth Street Specialty Lending had a return on equity of 12.98% and a net margin of 44.20%. On average, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 1.95 EPS for the current fiscal year.
Sixth Street Specialty Lending Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 8.74%. This is an increase from Sixth Street Specialty Lending's previous quarterly dividend of $0.41. Sixth Street Specialty Lending's payout ratio is 100.61%.
Sixth Street Specialty Lending Company Profile
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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.
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