Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 0% – Should You Buy?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price shot up 0% during trading on Thursday . The company traded as high as $21.50 and last traded at $21.41. 60,272 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 344,965 shares. The stock had previously closed at $21.40.

Analysts Set New Price Targets

TSLX has been the subject of several recent research reports. 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. Keefe, Bruyette & Woods dropped their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada reiterated 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, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Price Performance

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 business has a 50-day simple moving average of $20.72 and a 200 day simple moving average of $20.99. The firm has a market cap of $1.99 billion, a P/E ratio of 10.37 and a beta of 1.06.

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

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of large investors have recently modified their holdings of TSLX. Franklin Resources Inc. boosted its position in shares of Sixth Street Specialty Lending by 28.3% during the third quarter. Franklin Resources Inc. now owns 327,083 shares of the financial services provider’s stock valued at $6,751,000 after purchasing an additional 72,133 shares in the last quarter. Tidal Investments LLC lifted its position in Sixth Street Specialty Lending by 7.4% during the third quarter. Tidal Investments LLC now owns 50,883 shares of the financial services provider’s stock valued at $1,045,000 after buying an additional 3,504 shares during the period. Sanctuary Advisors LLC lifted its position in Sixth Street Specialty Lending by 6.3% during the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after buying an additional 1,441 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter valued at $708,000. Finally, Jane Street Group LLC grew its position in shares of Sixth Street Specialty Lending by 29.1% in the 3rd quarter. Jane Street Group LLC now owns 49,373 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 11,117 shares during the period. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company 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.