Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report)‘s stock had its “buy” rating reiterated by analysts at B. Riley Financial in a research note issued on Friday, Benzinga reports. They presently have a $19.00 price target on the financial services provider’s stock, down from their prior price target of $20.00. B. Riley Financial‘s price target points to a potential upside of 6.92% from the company’s previous close.
TSLX has been the subject of a number of other reports. Wall Street Zen raised Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods increased their price objective on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Weiss Ratings cut Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.71.
Get Our Latest Analysis on TSLX
Sixth Street Specialty Lending Price Performance
Shares of Sixth Street Specialty Lending stock remained flat at $17.77 during trading on Friday. The company had a trading volume of 122,694 shares, compared to its average volume of 714,878. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.43 and a quick ratio of 9.83. Sixth Street Specialty Lending has a 1 year low of $16.04 and a 1 year high of $22.84. The stock has a market cap of $1.70 billion, a PE ratio of 21.19 and a beta of 0.61. The stock has a fifty day moving average of $17.79 and a 200 day moving average of $18.18.
Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The firm had revenue of $98.96 million for the quarter, compared to analysts’ expectations of $97.59 million. Sixth Street Specialty Lending had a return on equity of 10.94% and a net margin of 19.81%. Analysts predict that Sixth Street Specialty Lending will post 1.74 earnings per share for the current year.
Institutional Trading of Sixth Street Specialty Lending
A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of Sixth Street Specialty Lending by 28.1% in the 2nd quarter. Van ECK Associates Corp now owns 2,366,266 shares of the financial services provider’s stock valued at $40,629,000 after acquiring an additional 519,456 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in Sixth Street Specialty Lending by 318.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 1,961,813 shares of the financial services provider’s stock worth $36,058,000 after purchasing an additional 1,492,704 shares during the last quarter. Callodine Capital Management LP lifted its holdings in Sixth Street Specialty Lending by 2.5% in the first quarter. Callodine Capital Management LP now owns 1,129,520 shares of the financial services provider’s stock worth $20,761,000 after acquiring an additional 27,528 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Sixth Street Specialty Lending by 16.0% during the third quarter. Tectonic Advisors LLC now owns 980,705 shares of the financial services provider’s stock valued at $17,672,000 after acquiring an additional 135,502 shares during the period. Finally, Rivernorth Capital Management LLC boosted its stake in Sixth Street Specialty Lending by 233.2% during the 2nd quarter. Rivernorth Capital Management LLC now owns 969,599 shares of the financial services provider’s stock valued at $16,648,000 after purchasing an additional 678,646 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.
Sixth Street Specialty Lending Company Profile
Sixth Street Specialty Lending, Inc is a business development company (BDC) that provides financing to middle-market companies. The company primarily invests in privately negotiated debt and equity investments, with a focus on supporting businesses that may have limited access to traditional bank financing.
Its investment portfolio generally includes first-lien and second-lien loans, unitranche financing, mezzanine debt, and related equity investments. Sixth Street Specialty Lending seeks to generate income through interest payments and other investment returns while providing customized financing solutions for acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate purposes.
The company was formed in 2011 and is externally managed by an affiliate of Sixth Street, an investment firm focused on credit and other asset classes.
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