Sixth Street Specialty Lending (NYSE:TSLX) VP Ross Anthony Bruck Buys 8,000 Shares of Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Ross Anthony Bruck acquired 8,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $17.76 per share, for a total transaction of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at approximately $324,120. This trade represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX opened at $17.38 on Thursday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average price is $18.32 and its two-hundred day moving average price is $20.24. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.11 and a beta of 0.65. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.99 and a 12-month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same quarter in the prior year, the company earned $0.58 EPS. On average, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.76 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, June 15th. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 annualized dividend and a yield of 9.7%. Sixth Street Specialty Lending’s dividend payout ratio is currently 146.09%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TSLX. 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 acquiring an additional 1,508 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Sixth Street Specialty Lending in the 1st quarter valued at $63,000. Advisory Services Network LLC bought a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $75,000. Redmont Wealth Advisors LLC bought a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $79,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $98,000. 70.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLX has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Zacks Research cut Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Citizens Jmp cut their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings cut Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

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.