Quantum Portfolio Management LLC bought a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 14,876,741 shares of the financial services provider’s stock, valued at approximately $273,434,000. Sixth Street Specialty Lending accounts for approximately 2.9% of Quantum Portfolio Management LLC’s investment portfolio, making the stock its 7th largest position. Quantum Portfolio Management LLC owned approximately 0.16% of Sixth Street Specialty Lending at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its holdings in shares of Sixth Street Specialty Lending by 1.2% during the 4th quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock worth $958,000 after buying an additional 506 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Sixth Street Specialty Lending by 5.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 532 shares in the last quarter. Family Wealth Partners LLC increased its stake in shares of Sixth Street Specialty Lending by 2.5% in the 4th quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 602 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Sixth Street Specialty Lending by 5.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 11,923 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 626 shares during the period. Finally, Sage Investment Counsel LLC lifted its position in shares of Sixth Street Specialty Lending by 3.2% during the 1st quarter. Sage Investment Counsel LLC now owns 25,577 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 800 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Truist Financial decreased their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Zacks Research lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. cut their price objective on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Five 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.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $19.67.
Insider Buying and Selling at Sixth Street Specialty Lending
In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $17.76 per share, with a total value of $142,080.00. Following the completion of the transaction, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. The trade was a 78.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.83% of the stock is owned by insiders.
Sixth Street Specialty Lending Price Performance
Shares of NYSE:TSLX opened at $16.90 on Thursday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a twelve month low of $16.04 and a twelve month high of $25.17. The stock’s 50 day moving average is $17.38 and its 200-day moving average is $18.91. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 14.69 and a beta of 0.59.
Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same period in the previous year, the business posted $0.58 EPS. Sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.72 EPS for the current fiscal year.
Sixth Street Specialty Lending Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 9.9%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date was Monday, June 15th. Sixth Street Specialty Lending’s dividend payout ratio is presently 146.09%.
Sixth Street Specialty Lending Company 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.
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