Riverbridge Partners LLC Has $1.95 Million Stock Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Riverbridge Partners LLC grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 79.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 89,938 shares of the financial services provider’s stock after purchasing an additional 39,919 shares during the quarter. Riverbridge Partners LLC’s holdings in Sixth Street Specialty Lending were worth $1,953,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth $108,000. Harbor Investment Advisory LLC lifted its stake in shares of Sixth Street Specialty Lending by 673.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,508 shares during the last quarter. Miller Global Investments LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 4th quarter valued at $225,000. JPMorgan Chase & Co. boosted its holdings in Sixth Street Specialty Lending by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 993,735 shares of the financial services provider’s stock worth $22,717,000 after purchasing an additional 50,946 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Sixth Street Specialty Lending in the third quarter worth $75,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $17.51 on Friday. The firm has a market capitalization of $1.66 billion, a PE ratio of 9.67 and a beta of 0.73. 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 current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. The firm’s fifty day simple moving average is $19.40 and its 200 day simple moving average is $21.16.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. During the same period in the prior year, the firm earned $0.61 EPS. On average, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm 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. The ex-dividend date is Monday, March 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Sixth Street Specialty Lending’s payout ratio is presently 101.66%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TSLX shares. Truist Financial cut their target price on 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. Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Citizens Jmp reissued a “market outperform” rating and set a $25.00 price objective on shares of Sixth Street Specialty Lending in a report on Wednesday, February 18th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. One 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. According to data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.94.

Insider Activity at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Alan Waxman acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $18.18 per share, with a total value of $3,636,000.00. Following the transaction, the vice president owned 500,000 shares of the company’s stock, valued at approximately $9,090,000. This trade represents a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 545,000 shares of company stock valued at $9,997,150 in the last 90 days. Insiders own 3.22% of the company’s stock.

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.