Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Free Report) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $17.85 and traded as high as $18.33. Sixth Street Specialty Lending shares last traded at $18.1640, with a volume of 764,706 shares.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods boosted their target price on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Zacks Research raised Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.83.
Read Our Latest Research Report on Sixth Street Specialty Lending
Sixth Street Specialty Lending Stock Performance
The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24. The business has a 50 day simple moving average of $17.85 and a two-hundred day simple moving average of $18.24. The firm has a market cap of $1.73 billion, a PE ratio of 19.12 and a beta of 0.62.
Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.28 million. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. During the same period in the previous year, the firm earned $0.56 earnings per share. As a group, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Quantum Portfolio Management LLC bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth $273,434,000. Van ECK Associates Corp increased its stake in shares of Sixth Street Specialty Lending by 28.1% during the second quarter. Van ECK Associates Corp now owns 2,366,266 shares of the financial services provider’s stock valued at $40,629,000 after buying an additional 519,456 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Sixth Street Specialty Lending in the second quarter valued at about $34,552,000. Callodine Capital Management LP raised its holdings in shares of 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 valued at $20,761,000 after acquiring an additional 27,528 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of Sixth Street Specialty Lending by 16.0% in 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 in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.
About Sixth Street Specialty Lending
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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