Sixth Street Specialty Lending (NYSE:TSLX) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01, FiscalAI reports. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.The firm had revenue of $97.84 million during the quarter, compared to the consensus estimate of $95.28 million.

Sixth Street Specialty Lending Stock Up 1.6%

NYSE:TSLX traded up $0.29 during mid-day trading on Tuesday, reaching $18.01. The stock had a trading volume of 527,761 shares, compared to its average volume of 823,312. The stock has a market cap of $1.71 billion, a P/E ratio of 15.66 and a beta of 0.59. The business’s 50 day moving average is $17.10 and its 200 day moving average is $18.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. Sixth Street Specialty Lending has a fifty-two week low of $16.04 and a fifty-two week high of $24.79.

Wall Street Analyst Weigh In

TSLX has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Zacks Research upgraded shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Truist Financial lowered their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company dropped their price objective on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of Sixth Street Specialty Lending stock in a transaction on Monday, May 11th. The stock was purchased 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 directly owned 18,250 shares of the company’s stock, valued at $324,120. The trade was a 78.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Sixth Street Specialty Lending by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,905 shares of the financial services provider’s stock worth $476,000 after buying an additional 968 shares during the last quarter. Mariner LLC lifted its holdings in Sixth Street Specialty Lending by 3.0% in the third quarter. Mariner LLC now owns 39,787 shares of the financial services provider’s stock valued at $910,000 after buying an additional 1,158 shares during the period. Tidal Investments LLC boosted its stake in Sixth Street Specialty Lending by 2.2% in the second quarter. Tidal Investments LLC now owns 53,219 shares of the financial services provider’s stock valued at $1,267,000 after acquiring an additional 1,168 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Sixth Street Specialty Lending by 6.5% during the 4th quarter. Guggenheim Capital LLC now owns 28,593 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Sixth Street Specialty Lending by 8.0% in the 2nd quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 2,263 shares during the period. 70.25% of the stock is currently 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.