Worth Asset Management LLC grew its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,445 shares of the financial services provider's stock after buying an additional 1,296 shares during the quarter. Worth Asset Management LLC's holdings in Sixth Street Specialty Lending were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of TSLX. Greenwich Investment Management Inc. purchased a new stake in Sixth Street Specialty Lending in the fourth quarter worth about $12,192,000. Progeny 3 Inc. boosted its stake in shares of Sixth Street Specialty Lending by 30.2% during the 1st quarter. Progeny 3 Inc. now owns 1,106,395 shares of the financial services provider's stock worth $25,768,000 after purchasing an additional 256,418 shares during the period. Belpointe Asset Management LLC lifted its holdings in Sixth Street Specialty Lending by 165.9% during the 1st quarter. Belpointe Asset Management LLC now owns 353,216 shares of the financial services provider's stock valued at $8,227,000 after buying an additional 220,391 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Sixth Street Specialty Lending by 20.8% in the 1st quarter. Van ECK Associates Corp now owns 1,234,247 shares of the financial services provider's stock valued at $28,746,000 after purchasing an additional 212,401 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth approximately $2,361,000. Institutional investors own 43.63% of the company's stock.
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Sixth Street Specialty Lending Trading Down 1.6 %
Shares of TSLX traded down $0.29 during trading hours on Friday, hitting $17.91. 8,963 shares of the stock traded hands, compared to its average volume of 464,047. Sixth Street Specialty Lending, Inc. has a 1-year low of $18.02 and a 1-year high of $24.74. The business has a fifty day moving average of $18.93 and a 200-day moving average of $20.61. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $1.45 billion, a PE ratio of 10.98 and a beta of 1.05.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The firm 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%. Analysts expect that Sixth Street Specialty Lending, Inc. will post 1.95 EPS for the current year.
Sixth Street Specialty Lending Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.42 per share. This is a positive change from Sixth Street Specialty Lending's previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 9.38%. The ex-dividend date of this dividend is Wednesday, September 14th. Sixth Street Specialty Lending's payout ratio is currently 103.07%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TSLX. StockNews.com lowered shares of Sixth Street Specialty Lending from a "hold" rating to a "sell" rating in a report on Wednesday. TheStreet lowered shares of Sixth Street Specialty Lending from a "b-" rating to a "c" rating in a research report on Thursday, August 11th. Raymond James cut their target price on shares of 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. Finally, Hovde Group decreased their target price on Sixth Street Specialty Lending to $21.00 in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.38.
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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