Key Points
- Alan Waxman, a vice president at Sixth Street Specialty Lending, bought a total of 300,000 TSLX shares — 100,000 on March 5 at $18.46 ($1.846M) and 200,000 on March 6 at $18.42 ($3.684M) — totaling roughly $5.53 million.
- The company reported an earnings miss (EPS $0.30 vs. $0.50 expected) and cut its quarterly dividend to $0.01 (annualized $0.04), implying a 0.2% yield and a payout ratio of about 101.66%.
Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) VP Alan Waxman acquired 100,000 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $18.46 per share, for a total transaction of $1,846,000.00. Following the completion of the acquisition, the vice president directly owned 100,000 shares of the company's stock, valued at $1,846,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Alan Waxman also recently made the following trade(s):
- On Friday, March 6th, Alan Waxman purchased 200,000 shares of Sixth Street Specialty Lending stock. The shares were bought at an average price of $18.42 per share, with a total value of $3,684,000.00.
Sixth Street Specialty Lending Price Performance
Sixth Street Specialty Lending stock opened at $18.42 on Tuesday. The company's 50 day simple moving average is $20.49 and its 200-day simple moving average is $21.75. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. Sixth Street Specialty Lending, Inc. has a 1 year low of $16.99 and a 1 year high of $25.17. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.17 and a beta of 0.73.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.20). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The company had revenue of $108.25 million for the quarter, compared to analysts' expectations of $107.11 million. During the same period in the previous year, the business posted $0.61 EPS. As a group, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.
Sixth Street Specialty Lending Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, March 16th. Sixth Street Specialty Lending's payout ratio is currently 101.66%.
Hedge Funds Weigh In On Sixth Street Specialty Lending
Several large investors have recently bought and sold shares of TSLX. Harbor Investment Advisory LLC lifted its holdings in Sixth Street Specialty Lending by 673.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider's stock worth $38,000 after buying an additional 1,508 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth about $49,000. Advisory Services Network LLC purchased a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Redmont Wealth Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $79,000. Finally, First Horizon Advisors Inc. raised its position in shares of Sixth Street Specialty Lending by 74.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider's stock worth $98,000 after acquiring an additional 1,753 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TSLX shares. Royal Bank Of Canada lowered their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Truist Financial reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Wells Fargo & Company decreased their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, February 17th. Weiss Ratings lowered Sixth Street Specialty Lending from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, February 20th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $25.00 price objective on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.25.
Check Out Our Latest Analysis on Sixth Street Specialty Lending
Sixth Street Specialty Lending Company Profile
(
Get Free Report)
Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.
As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.
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