Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Up 0.2% – Should You Buy?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) rose 0.2% during trading on Friday . The company traded as high as $21.60 and last traded at $21.55. Approximately 44,147 shares were traded during trading, a decline of 87% from the average daily volume of 346,708 shares. The stock had previously closed at $21.50.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLX. Wells Fargo & Company lowered their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.5 %

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm’s 50 day simple moving average is $20.64 and its 200-day simple moving average is $20.99. The company has a market capitalization of $2.02 billion, a PE ratio of 10.49 and a beta of 1.06.

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, hitting the consensus estimate of $0.57. The business had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter last year, the company posted $0.60 earnings per share. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV lifted its position in Sixth Street Specialty Lending by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 36,903 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 627 shares during the period. IFG Advisory LLC lifted its holdings in shares of Sixth Street Specialty Lending by 6.3% during the second quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 1,039 shares during the period. Barnett & Company Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 4.7% during the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 1,300 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Sixth Street Specialty Lending by 6.3% during the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 1,441 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Sixth Street Specialty Lending by 9.1% during the first quarter. Comerica Bank now owns 18,142 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 1,510 shares during the period. 70.25% of the stock is owned by institutional investors.

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.