Rivernorth Capital Management LLC purchased a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 290,953 shares of the financial services provider’s stock, valued at approximately $5,348,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quantum Portfolio Management LLC purchased a new stake in Sixth Street Specialty Lending during the 1st quarter valued at about $273,434,000. Strs Ohio boosted its holdings in shares of Sixth Street Specialty Lending by 101.8% during the 1st quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after purchasing an additional 2,193,551 shares during the last quarter. Bank of Montreal Can grew its position in shares of Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after purchasing an additional 1,845,088 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Sixth Street Specialty Lending by 318.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,961,813 shares of the financial services provider’s stock valued at $36,058,000 after purchasing an additional 1,492,704 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Sixth Street Specialty Lending by 105.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 624,196 shares of the financial services provider’s stock valued at $13,558,000 after purchasing an additional 319,665 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Sixth Street Specialty Lending Price Performance
Shares of TSLX opened at $17.70 on Wednesday. The firm has a 50-day simple moving average of $17.09 and a two-hundred day simple moving average of $18.47. The stock has a market cap of $1.68 billion, a PE ratio of 15.39 and a beta of 0.59. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.04 and a 1-year high of $24.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39.
Sixth Street Specialty Lending Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.42 per share. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 annualized dividend and a dividend yield of 9.5%. The ex-dividend date was Monday, June 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 146.09%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on TSLX. Zacks Research raised Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Citizens Jmp lowered their price target on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Royal Bank Of Canada dropped their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.67.
View Our Latest Stock Report on TSLX
Insider Buying and Selling at Sixth Street Specialty Lending
In other news, VP Ross Anthony Bruck acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the acquisition, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. This represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.83% of the company’s stock.
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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