Sixth Street Specialty Lending (NYSE:TSLX) Sees Large Volume Increase – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) saw strong trading volume on Friday . 1,063,168 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 736,865 shares.The stock last traded at $18.4050 and had previously closed at $18.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSLX shares. Royal Bank Of Canada dropped their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. Citizens Jmp reiterated a “market outperform” rating and issued a $25.00 price target on shares of Sixth Street Specialty Lending in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Truist Financial dropped their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sixth Street Specialty Lending has an average rating of “Buy” and a consensus target price of $22.25.

Sixth Street Specialty Lending Stock Down 2.8%

The company’s 50 day moving average price is $21.35 and its two-hundred day moving average price is $22.28. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.72 billion, a P/E ratio of 10.04 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Thursday, February 12th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The company had revenue of $108.25 million during the quarter, compared to analyst estimates of $107.11 million. During the same period in the previous year, the business posted $0.61 earnings per share. Equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, March 16th. Sixth Street Specialty Lending’s dividend payout ratio is 101.66%.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds have recently bought and sold shares of the stock. Texas Yale Capital Corp. lifted its position in shares of Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Texas Yale Capital Corp. now owns 35,500 shares of the financial services provider’s stock valued at $845,000 after buying an additional 500 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in Sixth Street Specialty Lending by 2.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 505 shares during the period. Lido Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 1.2% during the fourth quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock valued at $958,000 after purchasing an additional 506 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Sixth Street Specialty Lending by 5.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 532 shares during the period. Finally, IFG Advisory LLC boosted its position in shares of Sixth Street Specialty Lending by 2.7% in the third quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 551 shares during the period. Institutional investors 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.