Ignite Planners LLC Grows Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Ignite Planners LLC increased its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 47.3% during the fourth quarter, Holdings Channel reports. The fund owned 102,317 shares of the financial services provider’s stock after acquiring an additional 32,850 shares during the quarter. Ignite Planners LLC’s holdings in Sixth Street Specialty Lending were worth $2,246,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Harbor Investment Advisory LLC grew its position in shares of Sixth Street Specialty Lending by 673.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,508 shares during the period. Advisory Services Network LLC acquired a new stake in Sixth Street Specialty Lending in the 3rd quarter worth about $75,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending in the 3rd quarter worth about $79,000. State of Alaska Department of Revenue purchased a new stake in Sixth Street Specialty Lending in the third quarter valued at approximately $98,000. Finally, SG Americas Securities LLC acquired a new position in Sixth Street Specialty Lending during the fourth quarter worth approximately $108,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TSLX shares. Wells Fargo & Company decreased their price target on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada cut their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings downgraded Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Truist Financial cut their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and an average price target of $19.83.

Insider Buying and Selling

In related news, VP Alan Waxman bought 45,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price 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 $10,066,150. This trade represents a 9.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ross Anthony Bruck bought 8,000 shares of Sixth Street Specialty Lending stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the acquisition, the vice president owned 18,250 shares in the company, valued at $324,120. The trade was a 78.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 553,000 shares of company stock valued at $10,139,230. 3.83% of the stock is owned by insiders.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $17.36 on Friday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.65 billion, a PE ratio of 15.09 and a beta of 0.65. The company’s fifty day simple moving average is $18.24 and its 200-day simple moving average is $20.03. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.99 and a 52 week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly 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 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 quarter in the prior year, the company posted $0.58 earnings per share. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.42 dividend. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend is Monday, June 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 160.00%.

About Sixth Street Specialty Lending

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.