D.A. Davidson & CO. raised its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,418 shares of the financial services provider's stock after buying an additional 3,957 shares during the period. D.A. Davidson & CO.'s holdings in Sixth Street Specialty Lending were worth $755,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLX. Allworth Financial LP acquired a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $26,000. UMB Bank N A MO bought a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at $40,000. Nauset Wealth Management. LLC acquired a new position in Sixth Street Specialty Lending during the first quarter worth $71,000. Lindbrook Capital LLC raised its position in Sixth Street Specialty Lending by 302.2% during the first 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 Sixth Street Specialty Lending by 72.5% during the first 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. 43.63% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. TheStreet downgraded shares of Sixth Street Specialty Lending from a "b-" rating to a "c" rating in a research report on Thursday, August 11th. Raymond James reduced their price target on Sixth Street Specialty Lending from $25.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, August 4th. Finally, Hovde Group lowered their price target on Sixth Street Specialty Lending to $21.00 in a research report on Friday, May 20th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.38.
Sixth Street Specialty Lending Trading Down 0.1 %
TSLX stock opened at $18.60 on Tuesday. Sixth Street Specialty Lending, Inc. has a one year low of $18.02 and a one year high of $24.74. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 11.41 and a beta of 1.05. The company has a fifty day moving average price of $18.96 and a two-hundred day moving average price of $20.99. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.75 and a quick ratio of 0.75.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last announced its earnings results on Tuesday, August 2nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Sixth Street Specialty Lending had a net margin of 44.20% and a return on equity of 12.98%. The business had revenue of $63.89 million during the quarter, compared to the consensus estimate of $69.95 million. Equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.95 EPS for the current year.
Sixth Street Specialty Lending Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.42 dividend. This is an increase from Sixth Street Specialty Lending's previous quarterly dividend of $0.41. The ex-dividend date is Wednesday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 9.03%. Sixth Street Specialty Lending's dividend payout ratio is presently 100.61%.
About Sixth Street Specialty Lending
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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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