Zacks Research Upgrades Sixth Street Specialty Lending (NYSE:TSLX) to Hold

Sixth Street Specialty Lending (NYSE:TSLX) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on TSLX. Truist Financial decreased their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company cut their price target on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp lowered their price objective on shares of 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. 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 on the stock in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $16.90 on Tuesday. The company has a market capitalization of $1.61 billion, a PE ratio of 14.69 and a beta of 0.59. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending has a twelve month low of $16.04 and a twelve month high of $25.17. The firm has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $18.91.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $103.14 million. During the same period last year, the company posted $0.58 EPS. On average, sell-side analysts forecast that Sixth Street Specialty Lending will post 1.72 EPS for the current year.

Insider Activity

In other news, VP Ross Anthony Bruck bought 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the acquisition, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. This trade represents a 78.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Sixth Street Specialty Lending by 161.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,216 shares of the financial services provider’s stock valued at $622,000 after buying an additional 22,356 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 2.0% during the second quarter. Confluence Investment Management LLC now owns 211,954 shares of the financial services provider’s stock valued at $3,639,000 after buying an additional 4,164 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 34.0% during the first quarter. NewEdge Advisors LLC now owns 15,331 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 3,887 shares in the last quarter. RMR Capital Management LLC increased its position in shares of Sixth Street Specialty Lending by 27.9% during the first quarter. RMR Capital Management LLC now owns 252,808 shares of the financial services provider’s stock worth $4,647,000 after acquiring an additional 55,090 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Sixth Street Specialty Lending in the 1st quarter worth about $156,000. 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.