Key Points
- VP Alan Waxman bought 200,000 shares on March 9 at $18.18 ($3.636M) and, together with additional purchases on March 5, 6 and 10, accumulated a total of 545,000 shares in early March — spending nearly $10.0M and lifting his stake to 545,000 shares (he owned 500,000 after the March 9 buy).
- Sixth Street Specialty Lending recently cut its quarterly dividend to $0.01 (annualized $0.04, 0.2% yield) and reported a quarterly EPS of $0.30 that missed estimates by $0.20, while analysts have trimmed price targets (average target $22.25).
Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) VP Alan Waxman bought 45,000 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $18.47 per share, for a total transaction of $831,150.00. Following the purchase, the vice president owned 545,000 shares in the company, valued at approximately $10,066,150. This trade represents a 9.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Alan Waxman also recently made the following trade(s):
- On Monday, March 9th, Alan Waxman acquired 200,000 shares of Sixth Street Specialty Lending stock. The shares were acquired at an average price of $18.18 per share, with a total value of $3,636,000.00.
- On Friday, March 6th, Alan Waxman purchased 200,000 shares of Sixth Street Specialty Lending stock. The stock was acquired at an average price of $18.42 per share, for a total transaction of $3,684,000.00.
- On Thursday, March 5th, Alan Waxman bought 100,000 shares of Sixth Street Specialty Lending stock. The stock was bought at an average price of $18.46 per share, for a total transaction of $1,846,000.00.
Sixth Street Specialty Lending Stock Performance
Shares of NYSE TSLX traded down $0.04 during midday trading on Thursday, reaching $18.36. 30,292 shares of the company traded hands, compared to its average volume of 1,010,252. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 10.21 and a beta of 0.73. The stock has a 50-day moving average price of $20.36 and a 200 day moving average price of $21.69. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.99 and a 52 week high of $25.17. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.20). The company had revenue of $108.25 million for the quarter, compared to the consensus estimate of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same quarter last year, the firm posted $0.61 earnings per share. Sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.
Sixth Street Specialty Lending Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 annualized dividend and a yield of 0.2%. Sixth Street Specialty Lending's payout ratio is presently 101.66%.
Wall Street Analyst Weigh In
TSLX has been the subject of a number of research reports. Truist Financial decreased their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Citizens Jmp reiterated a "market outperform" rating and issued a $25.00 price target on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, February 17th. Finally, Wells Fargo & Company reduced their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.25.
Read Our Latest Report on Sixth Street Specialty Lending
Institutional Trading of Sixth Street Specialty Lending
Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Sixth Street Specialty Lending by 8.0% in the first quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider's stock worth $2,780,000 after acquiring an additional 9,230 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Sixth Street Specialty Lending by 38.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 4,597 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Sixth Street Specialty Lending by 54.0% in the 2nd quarter. Ignite Planners LLC now owns 71,358 shares of the financial services provider's stock valued at $1,770,000 after acquiring an additional 25,009 shares in the last quarter. Advisors Capital Management LLC grew its position in Sixth Street Specialty Lending by 1.9% during the 2nd quarter. Advisors Capital Management LLC now owns 718,338 shares of the financial services provider's stock worth $17,104,000 after purchasing an additional 13,730 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 2nd quarter valued at $1,003,000. 70.25% of the stock is owned by hedge funds and other institutional investors.
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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