Rivernorth Capital Management LLC Makes New $5.35 Million Investment in Sixth Street Specialty Lending, Inc. $TSLX

Rivernorth Capital Management LLC purchased a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 290,953 shares of the financial services provider’s stock, valued at approximately $5,348,000. Rivernorth Capital Management LLC owned about 0.31% of Sixth Street Specialty Lending as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Quantum Portfolio Management LLC purchased a new stake in Sixth Street Specialty Lending in the first quarter valued at approximately $273,434,000. Strs Ohio lifted its stake in Sixth Street Specialty Lending by 101.8% during the 1st quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock valued at $79,911,000 after acquiring an additional 2,193,551 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Sixth Street Specialty Lending by 2.4% in the 1st quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock valued at $46,562,000 after acquiring an additional 59,937 shares during the last quarter. Progeny 3 Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 1.0% in the 2nd quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock valued at $58,963,000 after acquiring an additional 23,451 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock worth $49,628,000 after acquiring an additional 1,845,088 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $17.70 on Wednesday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.39 and a beta of 0.59. The stock has a 50-day moving average of $17.09 and a 200 day moving average of $18.47. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a twelve month low of $16.04 and a twelve month high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.58 earnings per share. Sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.42 per share. This is a boost 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 9.5%. The ex-dividend date was Monday, June 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 146.09%.

Insiders Place Their Bets

In related news, VP Ross Anthony Bruck acquired 8,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $17.76 per share, with a total value of $142,080.00. Following the completion of the acquisition, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. This trade represents a 78.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TSLX shares. Citizens Jmp decreased their target price on shares of 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. Weiss Ratings downgraded Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada lowered their price objective 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. Finally, Truist Financial cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

Sixth Street Specialty Lending 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.