Sixth Street Specialty Lending (NYSE:TSLX) Shares Gap Down to $21.40

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $21.40, but opened at $20.92. Sixth Street Specialty Lending shares last traded at $20.90, with a volume of 94,228 shares.

Wall Street Analyst Weigh In

Separately, 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 note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.67.

Sixth Street Specialty Lending Stock Down 2.7 %

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $1.94 billion, a P/E ratio of 8.63 and a beta of 1.06. The firm has a 50 day moving average of $21.07 and a 200-day moving average of $21.20.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $120.33 million. During the same period in the previous year, the company posted $0.58 earnings per share. On average, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 8.83%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, September 16th. Sixth Street Specialty Lending’s payout ratio is presently 74.19%.

Insider Buying and Selling at Sixth Street Specialty Lending

In related news, Director Judy S. Slotkin acquired 7,015 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $19.90 per share, with a total value of $139,598.50. Following the completion of the acquisition, the director now owns 18,726 shares of the company’s stock, valued at $372,647.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $493,000. Cetera Investment Advisers boosted its holdings in shares of Sixth Street Specialty Lending by 9.9% in the 2nd quarter. Cetera Investment Advisers now owns 368,742 shares of the financial services provider’s stock worth $7,873,000 after acquiring an additional 33,228 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Sixth Street Specialty Lending by 4.0% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 128,694 shares of the financial services provider’s stock worth $2,748,000 after acquiring an additional 4,895 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Sixth Street Specialty Lending by 482.6% in the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after acquiring an additional 237,995 shares in the last quarter. Finally, Progeny 3 Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 2.6% in the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock worth $43,485,000 after acquiring an additional 50,908 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.