Sargent Investment Group LLC Decreases Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sargent Investment Group LLC cut its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 26.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,400 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Sargent Investment Group LLC’s holdings in Sixth Street Specialty Lending were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TSLX. EntryPoint Capital LLC purchased a new position in Sixth Street Specialty Lending during the first quarter valued at approximately $35,000. Cape Investment Advisory Inc. bought a new stake in Sixth Street Specialty Lending during the fourth quarter valued at $65,000. Security National Bank bought a new position in Sixth Street Specialty Lending in the 4th quarter worth about $68,000. nVerses Capital LLC bought a new position in Sixth Street Specialty Lending in the 2nd quarter worth about $70,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter valued at about $77,000. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $20.87 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.90 and a quick ratio of 1.90. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.02 and a 1-year high of $22.35. The business has a 50 day moving average of $21.06 and a 200 day moving average of $21.20. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.42 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The firm had revenue of $121.82 million for the quarter, compared to the consensus estimate of $120.33 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. Sixth Street Specialty Lending’s dividend payout ratio is 74.19%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Insider Transactions at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin acquired 7,015 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $19.90 per share, with a total value of $139,598.50. Following the completion of the purchase, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.30% of the company’s stock.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.