Sixth Street Specialty Lending (NYSE:TSLX) Given New $16.50 Price Target at JPMorgan Chase & Co.

Sixth Street Specialty Lending (NYSE:TSLX) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $17.50 to $16.50 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 4.81% from the company’s previous close.

A number of other research firms have also commented on TSLX. Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings lowered Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Wall Street Zen lowered Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Citizens Jmp decreased 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 report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $17.33 on Thursday. Sixth Street Specialty Lending has a one year low of $16.04 and a one year high of $25.17. The firm has a 50-day moving average of $17.54 and a two-hundred day moving average of $19.08. The firm has a market capitalization of $1.65 billion, a PE ratio of 15.07 and a beta of 0.60. 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 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 during the quarter, compared to analysts’ expectations of $103.14 million. During the same period last year, the business earned $0.58 earnings per share. On average, analysts forecast that Sixth Street Specialty Lending will post 1.71 earnings per share for the current year.

Insider Activity at Sixth Street Specialty Lending

In related news, VP Ross Anthony Bruck purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the acquisition, the vice president owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC boosted its stake in shares of Sixth Street Specialty Lending by 673.2% during 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 acquired a new position in shares of Sixth Street Specialty Lending in the first quarter worth $63,000. Advisory Services Network LLC acquired a new position in shares of Sixth Street Specialty Lending in the third quarter worth $75,000. Redmont Wealth Advisors LLC raised its holdings in shares of Sixth Street Specialty Lending by 37.8% during the fourth quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,310 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter worth $108,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

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.