Millennium Management LLC Sells 88,844 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Millennium Management LLC trimmed its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 28.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,090 shares of the financial services provider's stock after selling 88,844 shares during the period. Millennium Management LLC owned 0.24% of Sixth Street Specialty Lending worth $4,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLX. Van ECK Associates Corp increased its stake in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider's stock worth $50,972,000 after buying an additional 103,634 shares in the last quarter. Wells Fargo & Company MN increased its stake in Sixth Street Specialty Lending by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider's stock worth $25,201,000 after buying an additional 33,026 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Sixth Street Specialty Lending in the 4th quarter worth $17,488,000. Advisors Capital Management LLC increased its stake in Sixth Street Specialty Lending by 3.9% in the 4th quarter. Advisors Capital Management LLC now owns 694,616 shares of the financial services provider's stock worth $14,795,000 after buying an additional 26,389 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Sixth Street Specialty Lending by 15.9% in the 4th quarter. Stifel Financial Corp now owns 638,793 shares of the financial services provider's stock worth $13,606,000 after buying an additional 87,798 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Price Performance

Shares of TSLX traded down $0.09 during midday trading on Monday, hitting $23.21. 355,177 shares of the company traded hands, compared to its average volume of 371,348. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending, Inc. has a 52 week low of $18.58 and a 52 week high of $23.67. The firm has a 50 day moving average of $21.37 and a 200-day moving average of $21.67. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same quarter last year, the firm earned $0.52 EPS. On average, analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be issued a $0.06 dividend. This represents a dividend yield of 9.21%. The ex-dividend date of this dividend is Friday, May 30th. Sixth Street Specialty Lending's payout ratio is 97.35%.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLX. JPMorgan Chase & Co. cut their price target on 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. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday, February 14th. B. Riley initiated 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 objective for the company. Truist Financial increased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, Raymond James dropped 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 report on Friday, May 2nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $22.81.

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.