Insider Buying: Sixth Street Specialty Lending (NYSE:TSLX) VP Purchases $142,080.00 in Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Ross Anthony Bruck purchased 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the purchase, the vice president owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sixth Street Specialty Lending Stock Performance

TSLX stock opened at $17.73 on Friday. The business’s fifty day moving average is $18.31 and its 200-day moving average is $20.19. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.68 billion, a P/E ratio of 15.42 and a beta of 0.65. Sixth Street Specialty Lending, Inc. has a twelve month low of $16.99 and a twelve month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same period last year, the company earned $0.58 EPS. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.76 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.42 dividend. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.5%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 160.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLX. JPMorgan Chase & Co. cut their price target on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Zacks Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.83.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC raised its stake 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 period. Fifth Third Bancorp acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth $63,000. Advisory Services Network LLC acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter worth $75,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter worth $79,000. Finally, State of Alaska Department of Revenue acquired a new stake in Sixth Street Specialty Lending during the 3rd quarter worth $98,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.