Marble Harbor Investment Counsel LLC Takes Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Marble Harbor Investment Counsel LLC bought a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the second quarter, Holdings Channel reports. The fund bought 15,400 shares of the financial services provider’s stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also bought and sold shares of TSLX. International Assets Investment Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 3,860.0% during the fourth quarter. International Assets Investment Management LLC now owns 23,760 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 23,160 shares in the last quarter. Precision Wealth Strategies LLC bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $205,000. Private Advisor Group LLC bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $434,000. Janney Montgomery Scott LLC raised its stake in shares of Sixth Street Specialty Lending by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 266,060 shares of the financial services provider’s stock worth $5,747,000 after acquiring an additional 4,949 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Sixth Street Specialty Lending by 4.2% in the 4th quarter. UBS Group AG now owns 479,926 shares of the financial services provider’s stock worth $10,366,000 after acquiring an additional 19,486 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $21.40 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $21.07 and its two-hundred day moving average price is $21.20. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 8.63 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.02 and a 12-month high of $22.35.

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

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.46 dividend. 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. This represents a $1.84 annualized dividend and a yield of 8.60%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.