Bank of America Corp DE Sells 137,292 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Bank of America Corp DE lowered its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 17.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 639,717 shares of the financial services provider's stock after selling 137,292 shares during the period. Bank of America Corp DE owned approximately 0.69% of Sixth Street Specialty Lending worth $13,626,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in Sixth Street Specialty Lending by 25.3% in the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock worth $49,000 after purchasing an additional 465 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Sixth Street Specialty Lending by 13.3% in the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock worth $100,000 after purchasing an additional 550 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $109,000. EMC Capital Management boosted its holdings in shares of Sixth Street Specialty Lending by 92.5% in the fourth quarter. EMC Capital Management now owns 6,747 shares of the financial services provider's stock worth $144,000 after buying an additional 3,242 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new stake in Sixth Street Specialty Lending during the fourth quarter valued at approximately $207,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX traded up $0.39 on Tuesday, reaching $22.98. 511,717 shares of the company's stock traded hands, compared to its average volume of 367,886. The stock has a 50-day simple moving average of $21.32 and a 200-day simple moving average of $21.58. Sixth Street Specialty Lending, Inc. has a 12 month low of $18.58 and a 12 month high of $23.67. The firm has a market cap of $2.16 billion, a PE ratio of 11.32 and a beta of 0.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $113.92 billion for the quarter, compared to the consensus estimate of $116.70 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. During the same quarter last year, the company earned $0.52 EPS. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. This represents a dividend yield of 9.21%. The ex-dividend date of this dividend is Friday, May 30th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 97.35%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TSLX shares. Truist Financial increased their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. B. Riley began coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research report on Friday, February 14th. Finally, Raymond James lowered their price objective on 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 research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $22.81.

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.