JPMorgan Chase & Co. Cuts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $16.50

Sixth Street Specialty Lending (NYSE:TSLX) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $17.50 to $16.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 4.81% from the company’s current price.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Zacks Research lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Royal Bank Of Canada decreased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Citizens Jmp lowered their target price on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.67.

Sixth Street Specialty Lending Trading Up 0.9%

Shares of NYSE TSLX opened at $17.33 on Thursday. The business has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $19.08. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $25.17. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 15.07 and a beta of 0.60. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). The business had revenue of $93.40 million for 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 period in the previous year, the business posted $0.58 EPS. On average, research analysts predict that Sixth Street Specialty Lending will post 1.71 earnings per share for the current fiscal year.

Insider Activity at Sixth Street Specialty Lending

In other news, VP Ross Anthony Bruck acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the purchase, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. This represents a 78.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Sixth Street Specialty Lending

Several large investors have recently modified their holdings of TSLX. Quantum Portfolio Management LLC acquired a new position in Sixth Street Specialty Lending in the 1st quarter valued at $273,434,000. Strs Ohio lifted its position in Sixth Street Specialty Lending by 101.8% during the 1st quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after acquiring an additional 2,193,551 shares during the last quarter. Sound Income Strategies LLC lifted its position in Sixth Street Specialty Lending by 2.4% during the 1st quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock worth $46,562,000 after acquiring an additional 59,937 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Sixth Street Specialty Lending by 18.0% during the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after acquiring an additional 385,398 shares during the period. Finally, Progeny 3 Inc. grew its position in shares of Sixth Street Specialty Lending by 1.0% in the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after purchasing an additional 23,451 shares during the last quarter. 70.25% of the stock is owned by 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.