SCS Capital Management LLC purchased a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 692,199 shares of the financial services provider’s stock, valued at approximately $11,885,000. SCS Capital Management LLC owned approximately 0.73% of Sixth Street Specialty Lending as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TSLX. Legal & General Group Plc increased its holdings in Sixth Street Specialty Lending by 16.0% in the 4th quarter. Legal & General Group Plc now owns 665,352 shares of the financial services provider’s stock valued at $14,455,000 after purchasing an additional 91,578 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter worth about $2,809,000. OMERS ADMINISTRATION Corp grew its stake in shares of Sixth Street Specialty Lending by 157.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 469,109 shares of the financial services provider’s stock valued at $10,189,000 after buying an additional 286,724 shares in the last quarter. Independent Financial Group LLC acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at about $1,114,000. Finally, Quantum Portfolio Management LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $273,434,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
TSLX has been the topic of several recent research reports. Royal Bank Of Canada reduced their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Zacks Research upgraded shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.83.
Sixth Street Specialty Lending Trading Up 0.2%
Shares of TSLX opened at $18.81 on Monday. The company has a market capitalization of $1.79 billion, a P/E ratio of 19.80 and a beta of 0.59. Sixth Street Specialty Lending, Inc. has a one year low of $16.04 and a one year high of $24.79. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The stock has a 50-day moving average price of $17.32 and a 200 day moving average price of $18.12.
Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.The firm had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.28 million. During the same quarter last year, the firm earned $0.56 EPS. Sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.73 EPS for the current fiscal year.
Sixth Street Specialty Lending Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.9%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 176.84%.
Sixth Street Specialty Lending 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.
Further Reading
- Five stocks we like better than Sixth Street Specialty Lending
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding TSLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report).
Receive News & Ratings for Sixth Street Specialty Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sixth Street Specialty Lending and related companies with MarketBeat.com's FREE daily email newsletter.
