LSV Asset Management Has $26.34 Million Stock Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• LSV Asset Management increased its stake in Sixth Street Specialty Lending, Inc. by 3.9%, acquiring an additional 44,449 shares for a total of 1,177,111 shares valued at approximately $26.34 million.
• The company recently announced an increase in its dividend to $0.46 per share, which represents a dividend yield of 770.0%, significantly up from the previous dividend of $0.06.
• Sixth Street Specialty Lending reported earnings of $0.56 per share for its latest quarter, exceeding analyst estimates of $0.53, with a revenue of $115 million that also surpassed projections.

LSV Asset Management increased its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,177,111 shares of the financial services provider's stock after purchasing an additional 44,449 shares during the quarter. LSV Asset Management owned approximately 1.25% of Sixth Street Specialty Lending worth $26,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. bought a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc bought a new stake in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $40,000. Rossby Financial LCC bought a new stake in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $62,000. Redmont Wealth Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $97,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $109,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSLX. Wells Fargo & Company upped their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. B. Riley assumed coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target on the stock. JMP Securities boosted their price objective on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Raymond James Financial reduced their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective 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. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $23.28.

Sixth Street Specialty Lending Stock Down 0.9%

Shares of NYSE:TSLX traded down $0.21 during mid-day trading on Thursday, reaching $23.79. 249,752 shares of the stock were exchanged, compared to its average volume of 475,526. 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 company has a market cap of $2.24 billion, a P/E ratio of 11.84 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a one year low of $18.58 and a one year high of $25.17. The stock's 50 day simple moving average is $23.78 and its 200-day simple moving average is $22.53.

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 EPS 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 firm had revenue of $115.00 million during the quarter, compared to analysts' expectations of $110.42 million. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.46 per share. This represents a yield of 770.0%. The ex-dividend date of this dividend is Monday, September 15th. 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.