764,474 Shares of Sixth Street Specialty Lending, Inc. $TSLX Bought by Bank of America Corp DE

Key Points

• Bank of America bought 764,474 shares of Sixth Street Specialty Lending during the second quarter, worth approximately $13.1 million and representing about 0.8% of the company. Institutional investors collectively own 70.25% of TSLX.
• Analyst sentiment is moderately positive: TSLX has five Buy and three Hold ratings, with a consensus price target of $19.83. Recent targets ranged from $16.50 at JPMorgan to $19.50 at Keefe, Bruyette & Woods.
• Sixth Street Specialty Lending reported quarterly EPS of $0.43, slightly above estimates, on revenue of $97.84 million. The company declared a quarterly dividend of $0.42 per share, equal to a 9.2% annualized yield.

Bank of America Corp DE purchased a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 764,474 shares of the financial services provider's stock, valued at approximately $13,126,000. Bank of America Corp DE owned about 0.80% of Sixth Street Specialty Lending at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TSLX. Quantum Portfolio Management LLC acquired a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $273,434,000. Strs Ohio increased its stake in Sixth Street Specialty Lending by 101.8% during the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider's stock worth $79,911,000 after acquiring an additional 2,193,551 shares during the last quarter. Sound Income Strategies LLC raised its position in Sixth Street Specialty Lending by 2.4% in the first quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider's stock valued at $46,562,000 after purchasing an additional 59,937 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Sixth Street Specialty Lending in the 2nd quarter valued at $34,552,000. Finally, Callodine Capital Management LP lifted its stake in shares of Sixth Street Specialty Lending by 2.5% in the 1st quarter. Callodine Capital Management LP now owns 1,129,520 shares of the financial services provider's stock valued at $20,761,000 after purchasing an additional 27,528 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Sixth Street Specialty Lending from $17.50 to $16.50 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. Wall Street Zen raised shares of Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Sixth Street Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Sixth Street Specialty Lending from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an "outperform" rating in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending has an average rating of "Moderate Buy" and a consensus price target of $19.83.

Sixth Street Specialty Lending Stock Up 0.1%

Shares of NYSE TSLX opened at $18.17 on Friday. The stock has a market cap of $1.73 billion, a P/E ratio of 19.13 and a beta of 0.61. The business's fifty day simple moving average is $18.16 and its 200-day simple moving average is $17.88. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.04 and a 12-month high of $23.19. The company has a current ratio of 9.83, a quick ratio of 9.83 and a debt-to-equity ratio of 1.24.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $97.84 million during the quarter, compared to analysts' expectations of $95.28 million. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.During the same period in the previous year, the firm posted $0.56 EPS. As a group, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 9.2%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending's payout ratio is 176.84%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc NYSE: TSLX is a business development company that provides financing to middle-market companies. The company primarily invests in privately negotiated loans and other debt investments, seeking to support businesses that may have limited access to traditional bank financing or public capital markets.

Its investment portfolio generally includes first-lien senior secured loans, second-lien loans, mezzanine debt and, to a lesser extent, equity investments.

Want to see what other hedge funds are holding TSLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.