Ethos Financial Group LLC Purchases Shares of 40,391 Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Ethos Financial Group LLC has invested approximately $904,000 in Sixth Street Specialty Lending, acquiring 40,391 shares of the company.
• The company recently announced a dividend of $0.46, significantly increasing from a previous dividend of $0.06, resulting in a yield of 770.0%.
• Sixth Street Specialty Lending's stock has seen a 1.1% decline and was trading at $23.96, with a market capitalization of $2.26 billion and a earnings per share (EPS) of $0.56 for the last quarter.

Ethos Financial Group LLC 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 filing with the Securities & Exchange Commission. The firm acquired 40,391 shares of the financial services provider's stock, valued at approximately $904,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in shares of Sixth Street Specialty Lending by 108.5% during the first quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider's stock valued at $6,196,000 after purchasing an additional 144,096 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Sixth Street Specialty Lending by 8.1% during the first quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider's stock valued at $10,046,000 after purchasing an additional 33,818 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Sixth Street Specialty Lending by 15.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider's stock valued at $9,749,000 after purchasing an additional 57,962 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $201,000. Finally, Magnus Financial Group LLC bought a new position in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $322,000. 70.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. B. Riley assumed coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 price objective for the company. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th. JMP Securities boosted their price objective on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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. Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of "Buy" and an average price target of $23.28.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX traded up $0.0050 during midday trading on Friday, hitting $24.3550. The company's stock had a trading volume of 147,156 shares, compared to its average volume of 469,272. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $25.17. The firm's 50 day moving average is $23.95 and its 200-day moving average is $22.69. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The firm has a market cap of $2.30 billion, a P/E ratio of 12.12 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. The company had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. During the same quarter in the prior year, the company earned $0.58 EPS. Equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a -- dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a yield of 770.0%. This is an increase from Sixth Street Specialty Lending's previous -- dividend of $0.06. Sixth Street Specialty Lending's payout ratio is 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.