Ross Anthony Bruck Buys 8,000 Shares of Sixth Street Specialty Lending (NYSE:TSLX) Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Ross Anthony Bruck purchased 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $17.76 per share, with a total value of $142,080.00. Following the purchase, the vice president directly owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sixth Street Specialty Lending Stock Up 3.5%

TSLX stock opened at $17.96 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.61 and a beta of 0.65. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $16.99 and a fifty-two week high of $25.17. The stock has a fifty day moving average of $18.33 and a 200-day moving average of $20.21.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results 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). Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $103.14 million. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 1.76 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.42 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.68 annualized dividend and a yield of 9.4%. 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 160.00%.

Institutional Trading of Sixth Street Specialty Lending

Institutional investors and hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC raised its holdings 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 acquiring an additional 1,508 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Fifth Third Bancorp purchased a new stake in shares of Sixth Street Specialty Lending in the 1st quarter valued at about $63,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $79,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

TSLX has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on Sixth Street Specialty Lending from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Zacks Research downgraded Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Citizens Jmp cut their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada lowered their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Company 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.