Dakota Wealth Management Invests $811,000 in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Dakota Wealth Management acquired a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,225 shares of the financial services provider's stock, valued at approximately $811,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLX. Bank of New York Mellon Corp raised its position in Sixth Street Specialty Lending by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 909 shares during the period. Corient Private Wealth LLC grew its stake in shares of Sixth Street Specialty Lending by 37.6% during the fourth quarter. Corient Private Wealth LLC now owns 38,464 shares of the financial services provider's stock valued at $819,000 after buying an additional 10,508 shares during the last quarter. Signaturefd LLC grew its stake in shares of Sixth Street Specialty Lending by 13.3% during the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock valued at $100,000 after buying an additional 550 shares during the last quarter. LPL Financial LLC grew its stake in shares of Sixth Street Specialty Lending by 7.1% during the fourth quarter. LPL Financial LLC now owns 573,859 shares of the financial services provider's stock valued at $12,223,000 after buying an additional 38,169 shares during the last quarter. Finally, TrueMark Investments LLC grew its stake in shares of Sixth Street Specialty Lending by 38.3% during the fourth quarter. TrueMark Investments LLC now owns 217,155 shares of the financial services provider's stock valued at $4,625,000 after buying an additional 60,119 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James Financial cut their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. cut 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 note on Thursday, April 24th. B. Riley started coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Stock Down 1.3%

Sixth Street Specialty Lending stock traded down $0.32 during mid-day trading on Friday, reaching $24.78. 428,093 shares of the company were exchanged, compared to its average volume of 400,353. The business has a fifty day moving average of $23.38 and a 200 day moving average of $22.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.06 and a current ratio of 3.06. The firm has a market cap of $2.33 billion, a P/E ratio of 13.11 and a beta of 0.83. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $113.92 billion during the quarter, compared to analyst estimates of $116.70 million. Sixth Street Specialty Lending had a return on equity of 13.60% and a net margin of 36.59%. During the same quarter in the prior year, the business earned $0.52 earnings per share. Research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio is currently 97.35%.

Sixth Street Specialty Lending 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.