Sixth Street Specialty Lending (NYSE:TSLX) Hits New 52-Week Low – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares hit a new 52-week low during trading on Thursday . The company traded as low as $16.93 and last traded at $16.9650, with a volume of 719921 shares. The stock had previously closed at $17.20.

Analyst Upgrades and Downgrades

TSLX has been the topic of a number of recent research reports. Truist Financial lowered their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Citizens Jmp lowered their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Royal Bank Of Canada lowered 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 note on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price 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. Finally, Wells Fargo & Company lowered their target price 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Stock Down 0.1%

The company has a market cap of $1.61 billion, a price-to-earnings ratio of 14.71 and a beta of 0.60. 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 business has a fifty day moving average of $18.03 and a two-hundred day moving average of $19.59.

Sixth Street Specialty Lending (NYSE:TSLX) last released 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 business had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same period in the previous year, the company posted $0.58 EPS. As a group, equities 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 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 represents a $1.68 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s payout ratio is currently 160.00%.

Insiders Place Their Bets

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck purchased 8,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $17.76 per share, with a total value of $142,080.00. Following the acquisition, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. This trade represents a 78.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its holdings in shares of Sixth Street Specialty Lending by 673.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,508 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $63,000. Advisory Services Network LLC acquired a new position in shares of Sixth Street Specialty Lending during the third quarter valued at approximately $75,000. Redmont Wealth Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending during the third quarter valued at approximately $79,000. Finally, SG Americas Securities LLC acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $108,000. 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.