Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.2% – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares traded down 0.2% during trading on Tuesday . The company traded as low as $20.82 and last traded at $20.89. 25,753 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 347,519 shares. The stock had previously closed at $20.94.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSLX shares. Keefe, Bruyette & Woods lowered their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, 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 for the company in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Buy” and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Up 1.2 %

The business has a fifty day moving average of $20.51 and a 200 day moving average of $20.99. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same period in the prior year, the business posted $0.60 EPS. On average, equities research analysts predict that Sixth Street Specialty Lending, Inc. 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. Stockholders of record on Monday, December 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 7.69%. Sixth Street Specialty Lending’s dividend payout ratio is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Large investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Sixth Street Specialty Lending during the second quarter worth about $70,000. Ridgewood Investments LLC bought a new position in shares of Sixth Street Specialty Lending during the 2nd quarter valued at about $77,000. Quarry LP grew its position in shares of Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 3,238 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $86,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 2nd quarter worth approximately $109,000. Institutional investors 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.