Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.4% – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares dropped 0.4% during trading on Monday . The company traded as low as $21.49 and last traded at $21.51. Approximately 119,911 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 346,459 shares. The stock had previously closed at $21.60.

Analyst Ratings Changes

TSLX has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. 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. Finally, LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Stock Down 0.0 %

The stock has a 50 day simple moving average of $20.68 and a 200-day simple moving average of $20.99. The firm has a market cap of $2.00 billion, a PE ratio of 10.42 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same quarter in the previous year, the business earned $0.60 earnings per share. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of Sixth Street Specialty Lending in the second quarter worth $70,000. Ridgewood Investments LLC bought a new stake in shares of Sixth Street Specialty Lending in the second quarter worth $77,000. Quarry LP grew its holdings in shares of Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 3,238 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Sixth Street Specialty Lending in the third quarter worth $86,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending in the second quarter worth $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.