Confluence Investment Management LLC Acquires 3,431 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Confluence Investment Management LLC grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 246,659 shares of the financial services provider’s stock after purchasing an additional 3,431 shares during the quarter. Confluence Investment Management LLC’s holdings in Sixth Street Specialty Lending were worth $5,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MGO One Seven LLC boosted its holdings in shares of Sixth Street Specialty Lending by 3,380.9% during the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock valued at $11,964,000 after acquiring an additional 537,964 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 103,655.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 294,666 shares of the financial services provider’s stock valued at $6,365,000 after acquiring an additional 294,382 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Sixth Street Specialty Lending by 12.9% during the 1st quarter. Van ECK Associates Corp now owns 1,811,376 shares of the financial services provider’s stock valued at $38,818,000 after acquiring an additional 206,432 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Sixth Street Specialty Lending by 20.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,200,000 shares of the financial services provider’s stock valued at $25,920,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Significant Wealth Partners LLC boosted its holdings in shares of Sixth Street Specialty Lending by 949.8% during the 1st quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock valued at $4,348,000 after acquiring an additional 183,571 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Down 2.1 %

TSLX traded down $0.43 during midday trading on Friday, hitting $20.41. 361,244 shares of the company were exchanged, compared to its average volume of 313,280. The firm has a market capitalization of $1.90 billion, a P/E ratio of 8.23 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.02 and a 1-year high of $22.35. The firm’s 50 day moving average price is $21.45 and its 200-day moving average price is $21.38. The company has a quick ratio of 2.03, a current ratio of 1.90 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The firm had revenue of $121.82 million for the quarter, compared to the consensus estimate of $120.33 million. During the same period in the previous year, the business earned $0.58 EPS. As a group, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 annualized dividend and a dividend yield of 9.02%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price objective on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Sixth Street Specialty Lending 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.