Key Points
- CEO Robert Stanley bought 10,000 shares of TSLX on Nov. 18 at an average price of $20.85 (total $208,500), increasing his stake 67.08% to 24,907 shares valued around $519,311 per the SEC filing.
- Sixth Street Specialty Lending cut its quarterly dividend to $0.03 per share (annualized $0.12, yield 0.6%), with a record date of Dec. 15 and a payout ratio of 90.2%.
- The firm slightly beat expectations last quarter (EPS $0.53 vs. $0.52 expected; revenue $109.4M) and carries a consensus analyst rating of Moderate Buy with a $23.50 target price.
Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) CEO Robert Stanley bought 10,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of $20.85 per share, with a total value of $208,500.00. Following the completion of the transaction, the chief executive officer owned 24,907 shares of the company's stock, valued at $519,310.95. This trade represents a 67.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Sixth Street Specialty Lending Price Performance
TSLX stock traded up $0.16 during trading on Friday, hitting $20.87. 62,340 shares of the stock traded hands, compared to its average volume of 479,697. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 10.38 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a one year low of $18.58 and a one year high of $25.17. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $22.15 and a 200 day simple moving average of $23.10.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.The business had revenue of $109.40 million during the quarter, compared to analysts' expectations of $108.35 million. During the same period in the previous year, the business posted $0.57 earnings per share. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.
Sixth Street Specialty Lending Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. Sixth Street Specialty Lending's payout ratio is 90.20%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on TSLX. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $24.00 price objective on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sixth Street Specialty Lending in a report on Wednesday, October 8th. JMP Securities boosted their price objective on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Royal Bank Of Canada dropped their price objective on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.
Check Out Our Latest Research Report on TSLX
Institutional Trading of Sixth Street Specialty Lending
Several institutional investors have recently added to or reduced their stakes in the stock. Texas Yale Capital Corp. lifted its stake in Sixth Street Specialty Lending by 1.4% in the second quarter. Texas Yale Capital Corp. now owns 35,500 shares of the financial services provider's stock valued at $845,000 after buying an additional 500 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Sixth Street Specialty Lending by 2.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider's stock valued at $534,000 after acquiring an additional 505 shares in the last quarter. IFG Advisory LLC lifted its position in shares of Sixth Street Specialty Lending by 2.7% during the 3rd quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 551 shares during the period. Mirador Capital Partners LP boosted its stake in Sixth Street Specialty Lending by 4.4% during the second quarter. Mirador Capital Partners LP now owns 21,920 shares of the financial services provider's stock worth $522,000 after acquiring an additional 919 shares in the last quarter. Finally, Union Bancaire Privee UBP SA grew its holdings in Sixth Street Specialty Lending by 5.1% in the second quarter. Union Bancaire Privee UBP SA now owns 19,319 shares of the financial services provider's stock worth $460,000 after purchasing an additional 935 shares during the period. 70.25% of the stock is currently owned by institutional investors.
Sixth Street Specialty Lending Company Profile
(
Get Free Report)
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.
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