LSV Asset Management Purchases 44,449 Shares of 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 raised its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,177,111 shares of the financial services provider's stock after purchasing an additional 44,449 shares during the period. LSV Asset Management owned about 1.25% of Sixth Street Specialty Lending worth $26,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameriflex Group Inc. acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at $27,000. AdvisorNet Financial Inc acquired a new stake in Sixth Street Specialty Lending during the first quarter valued at approximately $40,000. Rossby Financial LCC acquired a new stake in Sixth Street Specialty Lending during the first quarter valued at approximately $62,000. Redmont Wealth Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending in the first quarter worth about $97,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at $109,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded down $0.02 during midday trading on Tuesday, reaching $23.78. The company's stock had a trading volume of 315,938 shares, compared to its average volume of 445,159. The stock has a market cap of $2.24 billion, a PE ratio of 11.83 and a beta of 0.84. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $23.76 and a 200-day moving average price of $22.52. Sixth Street Specialty Lending, Inc. has a 52 week low of $18.58 and a 52 week high of $25.17.

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

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a dividend 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 presently 91.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday. B. Riley began coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company. Raymond James Financial lowered their price objective on shares of 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 target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sixth Street Specialty Lending has a consensus rating of "Buy" and an average price target of $23.06.

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.