Plan Group Financial LLC Buys Shares of 120,324 Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Plan Group Financial LLC acquired 120,324 shares of Sixth Street Specialty Lending in the second quarter, valued at approximately $2.07 million and representing 0.13% of the company. Institutional investors collectively own 70.25% of TSLX.
• Sixth Street Specialty Lending reported quarterly earnings of $0.43 per share, slightly above analyst expectations, while revenue of $97.84 million also exceeded forecasts.
• The company declared a quarterly dividend of $0.42 per share, equivalent to an annualized $1.68 dividend and an 8.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $19.83.

Plan Group Financial LLC purchased a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 120,324 shares of the financial services provider's stock, valued at approximately $2,066,000. Plan Group Financial LLC owned 0.13% of Sixth Street Specialty Lending at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter valued at approximately $75,000. Fifth Third Bancorp purchased a new position in Sixth Street Specialty Lending in the first quarter worth approximately $63,000. Redmont Wealth Advisors LLC increased its stake in Sixth Street Specialty Lending by 37.8% during the fourth quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider's stock worth $104,000 after acquiring an additional 1,310 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Sixth Street Specialty Lending during the fourth quarter worth $108,000. Finally, Arax Advisory Partners purchased a new stake in 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 Stock Down 1.9%

NYSE:TSLX opened at $18.81 on Friday. Sixth Street Specialty Lending, Inc. has a 52 week low of $16.04 and a 52 week high of $24.79. The stock's fifty day moving average is $17.32 and its two-hundred day moving average is $18.15. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 19.80 and a beta of 0.59. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $97.84 million during the quarter, compared to analysts' expectations of $95.28 million. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.During the same period in the previous year, the firm posted $0.56 earnings per share. Research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.73 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is 176.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TSLX shares. Weiss Ratings lowered Sixth Street Specialty Lending from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. JPMorgan Chase & Co. cut their price objective on Sixth Street Specialty Lending from $17.50 to $16.50 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an "outperform" rating in a report on Monday, August 10th. Wells Fargo & Company decreased their target price on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.83.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc NYSE: TSLX is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.

Want to see what other hedge funds are holding TSLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source