Ignite Planners LLC Acquires 25,082 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Ignite Planners LLC increased its stake in Sixth Street Specialty Lending by 54.1%, acquiring an additional 25,082 shares, bringing their total ownership to 71,431 shares valued at approximately $1.77 million.
• The latest quarterly earnings report indicated that Sixth Street Specialty Lending achieved an earnings per share of $0.56, exceeding analyst expectations and generating revenue of $115 million for the quarter.
• A recent dividend of $0.05 per share was paid to shareholders, reflecting a high dividend payout ratio of 91.54% and an annualized yield of 0.9%.

Ignite Planners LLC boosted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 54.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,431 shares of the financial services provider's stock after purchasing an additional 25,082 shares during the quarter. Ignite Planners LLC owned about 0.08% of Sixth Street Specialty Lending worth $1,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rossby Financial LCC acquired a new position in shares of Sixth Street Specialty Lending during the first quarter worth approximately $62,000. Redmont Wealth Advisors LLC acquired a new position in Sixth Street Specialty Lending during the 1st quarter valued at $97,000. SVB Wealth LLC acquired a new position in Sixth Street Specialty Lending during the 1st quarter valued at $107,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at $117,000. Finally, Silver Oak Securities Incorporated acquired a new stake in Sixth Street Specialty Lending in the 1st quarter worth $182,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Sixth Street Specialty Lending Stock Down 1.8%

Shares of TSLX opened at $21.85 on Wednesday. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 10.87 and a beta of 0.85. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. 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 50-day moving average price of $23.77 and a two-hundred day moving average price of $22.92.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $110.42 million. During the same period in the prior year, the company posted $0.58 EPS. Equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 91.54%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $24.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. JMP Securities boosted their price target on 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sixth Street Specialty Lending in a report on Saturday, September 27th. Finally, Wells Fargo & Company lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.56.

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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