Short Interest in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Grows By 38.8%

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 4,751,785 shares, an increase of 38.8% from the January 29th total of 3,422,833 shares. Approximately 5.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,122,179 shares, the days-to-cover ratio is presently 4.2 days. Based on an average daily trading volume, of 1,122,179 shares, the days-to-cover ratio is presently 4.2 days. Approximately 5.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

TSLX has been the topic of several recent analyst reports. Truist Financial decreased their price objective 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, February 17th. Royal Bank Of Canada decreased their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $25.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.25.

Sixth Street Specialty Lending Stock Up 1.2%

NYSE:TSLX traded up $0.22 during midday trading on Wednesday, reaching $18.01. The company had a trading volume of 167,503 shares, compared to its average volume of 949,603. Sixth Street Specialty Lending has a 12-month low of $16.99 and a 12-month high of $25.17. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 9.95 and a beta of 0.73. 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’s fifty day simple moving average is $20.74 and its 200-day simple moving average is $21.91.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.20). The company had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same quarter last year, the company earned $0.61 EPS. On average, sell-side analysts anticipate that Sixth Street Specialty Lending will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

Large investors have recently modified their holdings of the company. Caprock Group LLC acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $1,478,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Sixth Street Specialty Lending by 25.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock valued at $15,154,000 after buying an additional 135,789 shares during the period. 1832 Asset Management L.P. raised its position in Sixth Street Specialty Lending by 13.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 395,347 shares of the financial services provider’s stock worth $9,413,000 after buying an additional 45,347 shares during the last quarter. Tred Avon Family Wealth LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter worth $1,028,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Sixth Street Specialty Lending by 7.3% in the second quarter. Rockefeller Capital Management L.P. now owns 207,112 shares of the financial services provider’s stock valued at $4,931,000 after acquiring an additional 14,104 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.