Insider Buying: Sixth Street Specialty Lending (NYSE:TSLX) CEO Buys 10,000 Shares of Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) CEO Robert Stanley bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were purchased at an average price of $20.85 per share, for a total transaction 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 represents a 67.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded down $0.06 during trading hours on Thursday, hitting $20.72. The stock had a trading volume of 357,710 shares, compared to its average volume of 481,664. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 10.31 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a 1-year low of $18.58 and a 1-year high of $25.17. The stock’s fifty day moving average is $22.23 and its two-hundred day moving average is $23.12.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $108.35 million. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, December 15th. Sixth Street Specialty Lending’s dividend payout ratio is 90.20%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TSLX shares. Weiss Ratings reissued a “buy (b)” rating on shares of Sixth Street Specialty Lending in a report on Wednesday, October 8th. Royal Bank Of Canada dropped their price objective on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. JMP Securities lifted their price target on shares of 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $24.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds have recently added to or reduced their stakes in TSLX. Strs Ohio purchased a new stake in Sixth Street Specialty Lending in the 1st quarter valued at about $79,698,000. Van ECK Associates Corp boosted its position in shares of Sixth Street Specialty Lending by 18.0% in the third quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock worth $57,817,000 after acquiring an additional 385,398 shares during the last quarter. Progeny 3 Inc. grew its holdings in Sixth Street Specialty Lending by 1.0% in the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after purchasing an additional 23,451 shares during the period. Sound Income Strategies LLC grew its holdings in Sixth Street Specialty Lending by 1.9% in the second quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider’s stock valued at $57,294,000 after purchasing an additional 45,157 shares during the period. Finally, Burgundy Asset Management Ltd. increased its position in Sixth Street Specialty Lending by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock worth $56,643,000 after purchasing an additional 31,922 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.