Short Interest in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Increases By 21.3%

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 883,000 shares, an increase of 21.3% from the October 31st total of 728,000 shares. Based on an average daily volume of 305,500 shares, the short-interest ratio is presently 2.9 days.

Sixth Street Specialty Lending Stock Up 1.4 %

Shares of TSLX opened at $21.48 on Monday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 10.43 and a beta of 1.06. Sixth Street Specialty Lending has a 52 week low of $19.50 and a 52 week high of $22.35. The stock’s 50-day moving average price is $20.54 and its 200-day moving average price is $20.98. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the previous year, the company posted $0.60 earnings per share. On average, sell-side analysts predict that Sixth Street Specialty Lending will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be issued a dividend of $0.05 per share. This represents a yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSLX. Nations Financial Group Inc. IA ADV boosted its stake in shares of Sixth Street Specialty Lending by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after acquiring an additional 627 shares in the last quarter. Worth Asset Management LLC boosted its position in Sixth Street Specialty Lending by 7.9% during the second quarter. Worth Asset Management LLC now owns 14,156 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,037 shares in the last quarter. IFG Advisory LLC grew its holdings in Sixth Street Specialty Lending by 6.3% in the second quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 1,039 shares during the period. Barnett & Company Inc. grew its holdings in Sixth Street Specialty Lending by 4.7% in the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 1,300 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 6.3% in the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after buying an additional 1,441 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.00.

About Sixth Street Specialty Lending

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.