Ares Management LLC Boosts Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Ares Management LLC raised its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 26.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,347 shares of the financial services provider’s stock after buying an additional 50,762 shares during the quarter. Sixth Street Specialty Lending makes up approximately 0.2% of Ares Management LLC’s holdings, making the stock its 24th largest holding. Ares Management LLC owned 0.33% of Sixth Street Specialty Lending worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. grew its holdings in Sixth Street Specialty Lending by 172.2% in the 2nd quarter. Citigroup Inc. now owns 2,371 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,500 shares during the period. Tradition Wealth Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 400.2% during the 1st quarter. Tradition Wealth Management LLC now owns 2,501 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 2,001 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth about $74,000. Geneos Wealth Management Inc. grew its holdings in shares of Sixth Street Specialty Lending by 17.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,225 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 1,050 shares during the period. Finally, Sigma Planning Corp purchased a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter worth about $202,000. Institutional investors own 49.37% of the company’s stock.

Separately, Zacks Investment Research cut Sixth Street Specialty Lending from a “buy” rating to a “hold” rating in a report on Friday, August 6th.

Shares of NYSE:TSLX traded down $0.01 during trading on Thursday, reaching $23.22. 1,855 shares of the stock were exchanged, compared to its average volume of 371,507. The firm’s 50-day moving average price is $22.71 and its 200 day moving average price is $22.49. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.63 and a current ratio of 0.63. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.12 and a 12-month high of $23.97.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Tuesday, August 3rd. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.12). The company had revenue of $62.83 million for the quarter, compared to analyst estimates of $65.34 million. Sixth Street Specialty Lending had a return on equity of 12.65% and a net margin of 95.35%. As a group, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend is Tuesday, September 14th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 74.21%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc acts as private equity fund. The fund target companies operating in the fields health, commercial, internet, industrial, technology serveries. It provides financing for first-lien debt, second-lien debt, mezzanine and unsecured debt and equity and other investments,transaction size between $15 to $350 million, EBTIDA of $10 to $250 million and enterprise value of $50 million.

See Also: Bond

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Institutional Ownership by Quarter for Sixth Street Specialty Lending (NYSE:TSLX)

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