Alan Waxman Acquires 200,000 Shares of Sixth Street Specialty Lending (NYSE:TSLX) Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Alan Waxman purchased 200,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $18.42 per share, for a total transaction of $3,684,000.00. Following the completion of the acquisition, the vice president owned 300,000 shares in the company, valued at $5,526,000. This represents a 200.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Alan Waxman also recently made the following trade(s):

• On Thursday, March 5th, Alan Waxman purchased 100,000 shares of Sixth Street Specialty Lending stock. The stock was acquired at an average price of $18.46 per share, with a total value of $1,846,000.00.

Sixth Street Specialty Lending Trading Up 0.3%

Shares of TSLX opened at $18.44 on Wednesday. The firm has a market cap of $1.75 billion, a P/E ratio of 10.19 and a beta of 0.73. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83. Sixth Street Specialty Lending, Inc. has a 1 year low of $16.99 and a 1 year high of $25.17. The company has a 50 day simple moving average of $20.42 and a two-hundred day simple moving average of $21.71.

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

Sixth Street Specialty Lending Cuts Dividend

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

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of large investors have recently made changes to their positions in TSLX. Van ECK Associates Corp lifted its stake in Sixth Street Specialty Lending by 18.0% in the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock worth $57,817,000 after purchasing an additional 385,398 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after acquiring an additional 108,708 shares during the last quarter. Progeny 3 Inc. boosted its holdings in Sixth Street Specialty Lending by 1.0% during the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares during the period. Burgundy Asset Management Ltd. grew its position in Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock valued at $56,643,000 after acquiring an additional 31,922 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in 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 worth $49,628,000 after purchasing an additional 1,845,088 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TSLX shares. Wells Fargo & Company dropped 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 note on Tuesday, February 17th. Keefe, Bruyette & Woods cut their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Citizens Jmp restated a “market outperform” rating and issued a $25.00 price target on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Wall Street Zen lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings cut shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

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.