Sixth Street Specialty Lending (NYSE:TSLX) Issues Quarterly Earnings Results

Sixth Street Specialty Lending (NYSE:TSLX) announced its earnings results on Thursday. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.21), FiscalAI reports. The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a net margin of 41.24% and a return on equity of 13.20%.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX traded up $0.02 during mid-day trading on Thursday, hitting $20.13. The company had a trading volume of 716,668 shares, compared to its average volume of 559,733. Sixth Street Specialty Lending has a 12 month low of $18.58 and a 12 month high of $25.17. The firm has a market cap of $1.90 billion, a P/E ratio of 9.87 and a beta of 0.70. The business’s 50-day simple moving average is $21.74 and its 200-day simple moving average is $22.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.73 and a quick ratio of 4.73.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company decreased their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a report on Wednesday, December 24th. Finally, Royal Bank Of Canada cut their price objective on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Insider Activity at Sixth Street Specialty Lending

In other news, CEO Robert J. Stanley acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were bought at an average price of $20.85 per share, with a total value of $208,500.00. Following the acquisition, the chief executive officer owned 24,907 shares of the company’s stock, valued at $519,310.95. This trade represents a 67.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.22% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC bought a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth about $75,000. Northwestern Mutual Wealth Management Co. bought a new position in Sixth Street Specialty Lending during the fourth quarter worth about $118,000. Maia Wealth LLC acquired a new stake in Sixth Street Specialty Lending during the third quarter valued at approximately $210,000. Glenview Trust co bought a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter valued at approximately $231,000. Finally, Virtu Financial LLC acquired a new position in shares of Sixth Street Specialty Lending in the 3rd quarter worth approximately $235,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.