1832 Asset Management L.P. Has $7.83 Million Stock Position in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• 1832 Asset Management L.P. reduced its holdings in Sixth Street Specialty Lending, Inc. by 36.4%, selling 200,000 shares, and now owns 350,000 shares valued at approximately $7.83 million.
• Analysts have a consensus rating of "Buy" for the stock with a target price averaging $23.28, indicating a positive outlook despite recent adjustments from firms like Raymond James and Wells Fargo.
• The company recently announced a dividend of $0.05 per share which indicates a yield of 864.0%, but its dividend payout ratio stands at 91.54%.

1832 Asset Management L.P. lessened its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 36.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 350,000 shares of the financial services provider's stock after selling 200,000 shares during the period. 1832 Asset Management L.P. owned 0.37% of Sixth Street Specialty Lending worth $7,833,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TSLX. Ameriflex Group Inc. acquired a new stake in Sixth Street Specialty Lending during the 4th quarter worth $27,000. AdvisorNet Financial Inc acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth $40,000. Rossby Financial LCC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth $62,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth $97,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth $117,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLX. Wells Fargo & Company lifted their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. B. Riley began coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a "buy" rating and a $23.00 target price for the company. JMP Securities lifted their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial reduced their price target on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $23.28.

Sixth Street Specialty Lending Stock Up 0.4%

TSLX traded up $0.09 during trading on Wednesday, hitting $24.24. The company had a trading volume of 149,174 shares, compared to its average volume of 433,533. The company has a market capitalization of $2.28 billion, a PE ratio of 12.06 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a one year low of $18.58 and a one year high of $25.17. The firm's 50-day moving average price is $24.05 and its 200 day moving average price is $22.74. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $115.00 million for the quarter, compared to analysts' expectations of $110.42 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same period in the previous year, the firm posted $0.58 EPS. As a group, equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, August 29th. This represents a dividend yield of 864.0%. Sixth Street Specialty Lending's payout ratio is currently 91.54%.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc NYSE: TSLX is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.