Dynamic Technology Lab Private Ltd Purchases New Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Dynamic Technology Lab Private Ltd acquired a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,094 shares of the financial services provider’s stock, valued at approximately $987,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Sixth Street Specialty Lending by 18.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after acquiring an additional 336,596 shares during the period. Millennium Management LLC raised its holdings in Sixth Street Specialty Lending by 482.6% during the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after purchasing an additional 237,995 shares during the last quarter. TrueMark Investments LLC acquired a new stake in Sixth Street Specialty Lending in the second quarter valued at $4,378,000. Baillie Gifford & Co. grew its holdings in Sixth Street Specialty Lending by 81.9% in the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock valued at $8,755,000 after purchasing an additional 184,634 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 811.5% in the first quarter. Cetera Advisors LLC now owns 136,262 shares of the financial services provider’s stock valued at $2,920,000 after buying an additional 121,312 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $21.19 on Thursday. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.50 and a 1 year high of $22.35. The company’s 50 day simple moving average is $20.51 and its 200 day simple moving average is $20.99. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.29 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $119.85 million. During the same quarter in the prior year, the company posted $0.60 EPS. On average, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be paid a $0.05 dividend. This represents a yield of 7.69%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is 89.32%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods dropped their price objective on shares of 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. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their price target on 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus 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.