Key Points
- Insider buy: Sixth Street Specialty Lending VP Ross Anthony Bruck bought 8,000 shares at $17.76 each, a $142,080 purchase that increased his stake by 78% to 18,250 shares.
- Dividend boost: The company announced a quarterly dividend of $0.42 per share, up sharply from the prior $0.01 quarterly payout, for an annualized yield of 9.7%.
- Mixed fundamentals and sentiment: TSLX reported quarterly EPS of $0.42, missing estimates of $0.49, while analysts have a consensus rating of Moderate Buy with a target price of $19.83.
Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) VP Ross Anthony Bruck purchased 8,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the purchase, the vice president directly owned 18,250 shares in the company, valued at $324,120. The trade was a 78.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Sixth Street Specialty Lending Stock Down 1.4%
Shares of TSLX opened at $17.38 on Thursday. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.99 and a 52 week high of $25.17. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.11 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a fifty day moving average of $18.32 and a 200-day moving average of $20.24.
Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same period in the prior year, the business earned $0.58 earnings per share. As a group, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.76 earnings per share for the current fiscal year.
Sixth Street Specialty Lending Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.68 annualized dividend and a yield of 9.7%. This is an increase from Sixth Street Specialty Lending's previous quarterly dividend of $0.01. Sixth Street Specialty Lending's dividend payout ratio is 146.09%.
Institutional Trading of Sixth Street Specialty Lending
A number of large investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its holdings in Sixth Street Specialty Lending by 2.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,369 shares of the financial services provider's stock worth $534,000 after acquiring an additional 505 shares during the period. Lido Advisors LLC grew its holdings in Sixth Street Specialty Lending by 1.2% during the 4th quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider's stock worth $958,000 after acquiring an additional 506 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Sixth Street Specialty Lending by 5.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider's stock worth $218,000 after acquiring an additional 532 shares during the period. IFG Advisory LLC grew its holdings in 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 worth $484,000 after acquiring an additional 551 shares during the period. Finally, Family Wealth Partners LLC grew its holdings in Sixth Street Specialty Lending by 2.5% during the 4th quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider's stock worth $540,000 after acquiring an additional 602 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on TSLX. Keefe, Bruyette & Woods lowered their target price on Sixth Street Specialty Lending from $21.00 to $18.50 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Citizens Jmp lowered their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 22nd. Truist Financial lowered their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada lowered their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered Sixth Street Specialty Lending from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.83.
Read 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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