Riverbridge Partners LLC Reduces Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Riverbridge Partners LLC lessened its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 34.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,243 shares of the financial services provider's stock after selling 24,700 shares during the period. Riverbridge Partners LLC owned approximately 0.05% of Sixth Street Specialty Lending worth $1,057,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth approximately $27,000. AdvisorNet Financial Inc acquired a new stake in Sixth Street Specialty Lending during the 1st quarter valued at approximately $40,000. First Horizon Advisors Inc. lifted its stake in Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 465 shares during the period. Signaturefd LLC lifted its stake in Sixth Street Specialty Lending by 13.3% during the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 550 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new stake in Sixth Street Specialty Lending during the 4th quarter valued at approximately $109,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $23.16 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06. The firm has a fifty day moving average price of $21.95 and a 200 day moving average price of $21.86. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $23.75. The stock has a market cap of $2.18 billion, a P/E ratio of 12.25 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $113.92 billion during the quarter, compared to analysts' expectations of $116.70 million. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. During the same period in the prior year, the business posted $0.52 earnings per share. Equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were given a dividend of $0.06 per share. This represents a yield of 9.21%. The ex-dividend date of this dividend was Friday, May 30th. Sixth Street Specialty Lending's dividend payout ratio is presently 97.35%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Raymond James Financial decreased 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 research note on Friday, May 2nd. B. Riley assumed coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of 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. Finally, Wells Fargo & Company decreased their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One investment 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $22.81.

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.

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