Grimes & Company Inc. Invests $290,000 in Sixth Street Specialty Lending, Inc. $TSLX

Grimes & Company Inc. purchased a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,161 shares of the financial services provider's stock, valued at approximately $290,000.

A number of other large investors have also modified their holdings of the business. Strs Ohio purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter worth about $79,698,000. Sound Income Strategies LLC grew its stake in shares of Sixth Street Specialty Lending by 1.9% during the second quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider's stock worth $57,294,000 after acquiring an additional 45,157 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Sixth Street Specialty Lending by 7.0% during the first quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider's stock worth $52,527,000 after acquiring an additional 154,560 shares during the last quarter. Allen Investment Management LLC lifted its holdings in shares of Sixth Street Specialty Lending by 24.4% during the first quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock worth $32,114,000 after purchasing an additional 281,339 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Sixth Street Specialty Lending by 3.9% during the first quarter. LSV Asset Management now owns 1,177,111 shares of the financial services provider's stock worth $26,344,000 after purchasing an additional 44,449 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TSLX shares. Wells Fargo & Company lifted their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sixth Street Specialty Lending in a report on Saturday, September 27th. JMP Securities lifted their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $24.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.56.

Sixth Street Specialty Lending Trading Down 1.8%

Shares of NYSE:TSLX opened at $21.85 on Wednesday. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $25.17. The company has a market capitalization of $2.06 billion, a PE ratio of 10.87 and a beta of 0.85. The business has a 50 day moving average of $23.77 and a two-hundred day moving average of $22.92. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07.

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

Sixth Street Specialty Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.05 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. Sixth Street Specialty Lending's payout ratio is 91.54%.

About Sixth Street Specialty Lending

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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