Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.2% – Should You Sell?

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) were down 0.2% during trading on Monday . The company traded as low as $21.40 and last traded at $21.43. Approximately 67,478 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 346,745 shares. The stock had previously closed at $21.48.

Wall Street Analysts Forecast Growth

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

Sixth Street Specialty Lending Price Performance

The stock has a market cap of $2.02 billion, a PE ratio of 10.40 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The stock’s 50-day moving average is $20.54 and its two-hundred day moving average is $20.98.

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

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be given a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after buying an additional 141,463 shares in the last quarter. Progeny 3 Inc. grew its holdings in Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after buying an additional 215,996 shares during the period. Sound Income Strategies LLC grew its holdings in Sixth Street Specialty Lending by 2.5% in the third quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock valued at $44,818,000 after purchasing an additional 53,961 shares during the period. Burgundy Asset Management Ltd. increased its holdings in shares of Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after buying an additional 29,034 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Sixth Street Specialty Lending by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after acquiring an additional 79,000 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.