Hennion & Walsh Asset Management Inc. Has $2.92 Million Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Hennion & Walsh Asset Management Inc. lowered its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 11.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 137,245 shares of the financial services provider’s stock after selling 17,743 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Sixth Street Specialty Lending were worth $2,923,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP grew its stake in Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 3,238 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Sixth Street Specialty Lending during the third quarter worth about $86,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Sixth Street Specialty Lending during the 3rd quarter valued at about $196,000. ProShare Advisors LLC grew its position in shares of Sixth Street Specialty Lending by 14.5% in the 2nd quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 1,898 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Sixth Street Specialty Lending by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,376 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Price Performance

Shares of TSLX opened at $21.64 on Friday. The company has a 50 day moving average of $21.03 and a 200-day moving average of $20.92. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $2.02 billion, a P/E ratio of 10.50 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.50 and a twelve month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 2nd were issued a $0.05 dividend. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend was Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is 89.32%.

Sixth Street Specialty Lending Company Profile

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.