Diversify Wealth Management LLC Acquires New Stake in Sixth Street Specialty Lending, Inc. $TSLX

Diversify Wealth Management LLC purchased a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the 1st quarter, HoldingsChannel reports. The fund purchased 38,516 shares of the financial services provider’s stock, valued at approximately $729,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its stake in shares of Sixth Street Specialty Lending by 673.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,508 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Sixth Street Specialty Lending in the 1st quarter valued at $63,000. Advisory Services Network LLC acquired a new stake in shares of Sixth Street Specialty Lending during the third quarter worth about $75,000. Redmont Wealth Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 37.8% during the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,310 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Sixth Street Specialty Lending in the fourth quarter valued at $108,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX opened at $17.72 on Friday. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.04 and a 12-month high of $25.17. The company’s 50-day moving average is $17.19 and its two-hundred day moving average is $18.73. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 15.41 and a beta of 0.59. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts expect that Sixth Street Specialty Lending, Inc. will post 1.72 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 9.5%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Monday, June 15th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 146.09%.

Wall Street Analysts Forecast Growth

TSLX has been the subject of several analyst reports. Weiss Ratings cut shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Citizens Jmp dropped their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada dropped their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Insiders Place Their Bets

In other news, VP Ross Anthony Bruck purchased 8,000 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the transaction, the vice president owned 18,250 shares in the company, valued at approximately $324,120. The trade was a 78.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.83% of the company’s stock.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.