Financial Advocates Investment Management Buys 9,350 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Financial Advocates Investment Management lifted its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,985 shares of the financial services provider’s stock after acquiring an additional 9,350 shares during the period. Financial Advocates Investment Management’s holdings in Sixth Street Specialty Lending were worth $3,120,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Grimes & Company Inc. increased its position in Sixth Street Specialty Lending by 16.4% in the 3rd quarter. Grimes & Company Inc. now owns 18,400 shares of the financial services provider’s stock worth $378,000 after buying an additional 2,591 shares during the period. Romano Brothers AND Company increased its position in Sixth Street Specialty Lending by 50.8% in the 3rd quarter. Romano Brothers AND Company now owns 26,700 shares of the financial services provider’s stock worth $548,000 after buying an additional 9,000 shares during the period. Private Advisor Group LLC increased its position in Sixth Street Specialty Lending by 26.8% in the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock worth $524,000 after buying an additional 5,398 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Sixth Street Specialty Lending in the 3rd quarter worth approximately $196,000. Finally, Naviter Wealth LLC increased its position in Sixth Street Specialty Lending by 14.2% in the 3rd quarter. Naviter Wealth LLC now owns 113,467 shares of the financial services provider’s stock worth $2,329,000 after buying an additional 14,094 shares during the period. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $20.41 on Thursday. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.33 and a 1-year high of $22.35. The firm has a market capitalization of $1.89 billion, a PE ratio of 8.23 and a beta of 1.06. The business’s 50 day moving average is $20.76 and its 200-day moving average is $21.09. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus price target of $22.42.

Insider Activity at Sixth Street Specialty Lending

In related news, Director Judy S. Slotkin purchased 7,015 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $19.90 per share, with a total value of $139,598.50. Following the purchase, the director now directly owns 18,726 shares in the company, valued at $372,647.40. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

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.