Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Sees Large Growth in Short Interest

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 6,540,916 shares, a growth of 37.7% from the February 12th total of 4,751,785 shares. Based on an average daily volume of 1,796,421 shares, the short-interest ratio is presently 3.6 days. Approximately 7.1% of the company’s shares are short sold. Approximately 7.1% of the company’s shares are short sold. Based on an average daily volume of 1,796,421 shares, the short-interest ratio is presently 3.6 days.

Insiders Place Their Bets

In related news, VP Alan Waxman acquired 200,000 shares of the stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $18.18 per share, with a total value of $3,636,000.00. Following the purchase, the vice president directly owned 500,000 shares of the company’s stock, valued at approximately $9,090,000. This represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 545,000 shares of company stock worth $9,997,150 over the last quarter. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several large investors have recently modified their holdings of TSLX. Harbor Investment Advisory LLC lifted its holdings in Sixth Street Specialty Lending by 673.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,508 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter valued at approximately $49,000. Advisory Services Network LLC bought a new position in Sixth Street Specialty Lending during the third quarter worth $75,000. Redmont Wealth Advisors LLC bought a new position in Sixth Street Specialty Lending during the third quarter worth $79,000. Finally, State of Alaska Department of Revenue acquired a new position in Sixth Street Specialty Lending in the third quarter worth $98,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Down 0.9%

NYSE:TSLX traded down $0.16 on Monday, reaching $17.65. The stock had a trading volume of 429,949 shares, compared to its average volume of 1,038,803. The company has a 50-day moving average of $20.21 and a 200 day moving average of $21.58. 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 $1.67 billion, a P/E ratio of 9.74 and a beta of 0.73. Sixth Street Specialty Lending has a 12-month low of $16.99 and a 12-month high of $25.17.

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

Sixth Street Specialty Lending Cuts Dividend

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

Analyst Ratings Changes

Several brokerages have commented on TSLX. JPMorgan Chase & Co. reduced their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set a “neutral” rating on the stock in a research report on Friday. Citizens Jmp reissued a “market outperform” rating and issued a $25.00 target price on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. Royal Bank Of Canada reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Wells Fargo & Company decreased their price target on shares of 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. Finally, Truist Financial lowered their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and an average price target of $21.94.

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.