COFG Advisors LLC Acquires New Stake in Sixth Street Specialty Lending, Inc. $TSLX

COFG Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 29,761 shares of the financial services provider’s stock, valued at approximately $646,000.

A number of other large investors have also made changes to their positions in the stock. Stratos Wealth Partners LTD. boosted its stake in shares of Sixth Street Specialty Lending by 5.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 10,047 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 532 shares during the last quarter. IFG Advisory LLC boosted its stake in shares of Sixth Street Specialty Lending by 2.7% during the third quarter. IFG Advisory LLC now owns 21,159 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 551 shares during the last quarter. Family Wealth Partners LLC boosted its stake in shares of Sixth Street Specialty Lending by 2.5% during the fourth quarter. Family Wealth Partners LLC now owns 24,867 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 602 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Sixth Street Specialty Lending by 5.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 11,923 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 626 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Sixth Street Specialty Lending by 2.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 47,093 shares of the financial services provider’s stock valued at $1,023,000 after acquiring an additional 970 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $18.02 on Tuesday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 15.67 and a beta of 0.65. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.96 and a 1-year high of $25.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The business’s 50-day simple moving average is $18.14 and its 200-day simple moving average is $19.82.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share 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 analyst estimates of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities analysts predict that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.68 annualized dividend and a dividend yield of 9.3%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio is presently 146.09%.

Insider Activity

In other news, VP Ross Anthony Bruck acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $17.76 per share, with a total value of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares of the company’s stock, valued at approximately $324,120. This trade represents a 78.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alan Waxman bought 200,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $18.18 per share, for a total transaction of $3,636,000.00. Following the completion of the acquisition, the vice president owned 500,000 shares in the company, valued at approximately $9,090,000. This trade represents a 66.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 553,000 shares of company stock worth $10,139,230 over the last ninety days. Corporate insiders own 3.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TSLX. Weiss Ratings lowered Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Truist Financial decreased their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Keefe, Bruyette & Woods decreased their price objective on Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.83.

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.