Sixth Street Specialty Lending (NYSE:TSLX) Shares Down 1.4% – Time to Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares fell 1.4% on Monday . The company traded as low as $20.61 and last traded at $20.62. 138,137 shares were traded during mid-day trading, a decline of 60% from the average session volume of 344,724 shares. The stock had previously closed at $20.91.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods decreased their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective 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, According to data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Price Performance

The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 9.91 and a beta of 1.06. The company’s 50 day moving average is $20.75 and its 200 day moving average is $20.97. 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 earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be given a $0.05 dividend. 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 is presently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its stake in shares of Sixth Street Specialty Lending by 26.8% in the third quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after buying an additional 5,398 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in Sixth Street Specialty Lending by 98.6% in the third quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock valued at $2,971,000 after acquiring an additional 71,849 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Sixth Street Specialty Lending by 5.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock worth $12,222,000 after purchasing an additional 29,365 shares during the period. Van ECK Associates Corp grew its position in Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after purchasing an additional 141,463 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Sixth Street Specialty Lending by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after purchasing an additional 79,000 shares in the last quarter. 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 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.