Riverbridge Partners LLC Sells 24,700 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Riverbridge Partners LLC decreased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 34.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ameriflex Group Inc. acquired a new position in Sixth Street Specialty Lending during the fourth quarter worth $27,000. AdvisorNet Financial Inc bought a new stake in Sixth Street Specialty Lending during the first quarter worth about $40,000. First Horizon Advisors Inc. grew its stake in Sixth Street Specialty Lending by 25.3% in the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 465 shares in the last quarter. Signaturefd LLC raised its stake in shares of 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 worth $100,000 after purchasing an additional 550 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at $109,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TSLX shares. Wells Fargo & Company lowered their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Raymond James Financial reduced their target price on 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 started coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target 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 stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One investment 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 company. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of "Buy" and a consensus price target of $22.81.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX traded up $0.27 during mid-day trading on Tuesday, hitting $23.14. 530,689 shares of the company's stock were exchanged, compared to its average volume of 375,009. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. Sixth Street Specialty Lending, Inc. has a 52 week low of $18.58 and a 52 week high of $23.75. The stock's 50-day simple moving average is $22.08 and its 200-day simple moving average is $21.89. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 12.25 and a beta of 0.83.

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

Sixth Street Specialty Lending Cuts Dividend

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

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.