Confluence Investment Management LLC Purchases 36,650 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Confluence Investment Management LLC increased its stake in Sixth Street Specialty Lending, Inc. by 14.6% in Q2, acquiring an additional 36,650 shares, bringing its total to 288,066 shares valued at approximately $6.86 million.
• Wall Street analysts are optimistic about Sixth Street Specialty Lending, with several firms raising their target price to between $24.00 and $25.00, and an average rating of "Buy."
• The company recently announced a quarterly dividend of $0.05, which reflects an annualized dividend yield of 0.8% and a payout ratio of 91.54%.

Confluence Investment Management LLC boosted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 14.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 288,066 shares of the financial services provider's stock after buying an additional 36,650 shares during the quarter. Confluence Investment Management LLC owned 0.31% of Sixth Street Specialty Lending worth $6,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cornerstone Wealth Management LLC lifted its stake in Sixth Street Specialty Lending by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 46,732 shares of the financial services provider's stock valued at $1,046,000 after acquiring an additional 548 shares during the period. Mallini Complete Financial Planning LLC lifted its stake in Sixth Street Specialty Lending by 4.5% during the 1st quarter. Mallini Complete Financial Planning LLC now owns 13,028 shares of the financial services provider's stock valued at $292,000 after acquiring an additional 558 shares during the period. Parallel Advisors LLC lifted its stake in Sixth Street Specialty Lending by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 20,708 shares of the financial services provider's stock valued at $463,000 after acquiring an additional 848 shares during the period. Barnett & Company Inc. lifted its stake in Sixth Street Specialty Lending by 3.4% during the 1st quarter. Barnett & Company Inc. now owns 30,050 shares of the financial services provider's stock valued at $673,000 after acquiring an additional 1,000 shares during the period. Finally, Tidal Investments LLC lifted its stake in Sixth Street Specialty Lending by 2.3% during the 4th quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider's stock valued at $1,109,000 after acquiring an additional 1,168 shares during the period. Institutional investors own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLX. JMP Securities upped their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company increased their price objective on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Sixth Street Specialty Lending has an average rating of "Buy" and an average price target of $23.28.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $24.69 on Friday. The firm's 50 day moving average price is $24.28 and its 200-day moving average price is $22.88. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $2.33 billion, a PE ratio of 12.28 and a beta of 0.85.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $115.00 million during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.58 EPS. Equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Sixth Street Specialty Lending's dividend 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.

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