Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.2% – What’s Next?

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $20.82 and last traded at $20.89. 25,753 shares were traded during trading, a decline of 93% from the average session volume of 347,519 shares. The stock had previously closed at $20.94.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TSLX shares. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Performance

The stock has a market capitalization of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of $20.51 and a two-hundred day simple moving average of $20.99.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same period in the previous year, the company earned $0.60 earnings per share. On average, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 7.69%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC raised its stake in Sixth Street Specialty Lending by 5.8% in the first quarter. Tidal Investments LLC now owns 43,235 shares of the financial services provider’s stock valued at $927,000 after buying an additional 2,368 shares during the period. Comerica Bank raised its stake in Sixth Street Specialty Lending by 9.1% in the 1st quarter. Comerica Bank now owns 18,142 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 1,510 shares during the period. EMC Capital Management raised its stake in Sixth Street Specialty Lending by 23.1% in the 1st quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,265 shares during the period. Cetera Investment Advisers lifted its holdings in Sixth Street Specialty Lending by 41.8% during the 1st quarter. Cetera Investment Advisers now owns 335,514 shares of the financial services provider’s stock valued at $7,190,000 after purchasing an additional 98,855 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in Sixth Street Specialty Lending by 811.5% during the first quarter. Cetera Advisors LLC now owns 136,262 shares of the financial services provider’s stock worth $2,920,000 after purchasing an additional 121,312 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

About Sixth Street Specialty Lending

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.