Riverbridge Partners LLC boosted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) by 59.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,704 shares of the financial services provider’s stock after buying an additional 53,766 shares during the quarter. Riverbridge Partners LLC owned approximately 0.15% of Sixth Street Specialty Lending worth $2,641,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ocean Park Asset Management LLC bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $601,000. Kavar Capital Partners Group LLC bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at $287,000. Corient Private Wealth LLC lifted its holdings in Sixth Street Specialty Lending by 16.0% during the 4th quarter. Corient Private Wealth LLC now owns 78,237 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 10,765 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 23.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 62,519 shares of the financial services provider’s stock valued at $1,358,000 after purchasing an additional 12,000 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Sixth Street Specialty Lending during the fourth quarter worth $475,000. Institutional investors own 70.25% of the company’s stock.
Sixth Street Specialty Lending Stock Performance
Shares of NYSE TSLX opened at $16.48 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The stock’s fifty day moving average price is $17.79 and its two-hundred day moving average price is $19.31. Sixth Street Specialty Lending, Inc. has a one year low of $16.23 and a one year high of $25.17. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 14.33 and a beta of 0.60.
Sixth Street Specialty Lending Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.42 per share. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend is Monday, June 15th. Sixth Street Specialty Lending’s payout ratio is 146.09%.
Insiders Place Their Bets
In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck acquired 8,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at $324,120. This trade represents a 78.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.83% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research firms have commented on TSLX. Wells Fargo & Company decreased their price objective on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Royal Bank Of Canada reduced their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Keefe, Bruyette & Woods decreased their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.83.
Get Our Latest Report on Sixth Street Specialty Lending
About Sixth Street Specialty Lending
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.
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