605,232 Shares in Sixth Street Specialty Lending, Inc. $TSLX Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC made a new investment in Sixth Street Specialty Lending, Inc., purchasing over 605,000 shares valued at approximately $13.55 million.
• Sixth Street Specialty Lending recently reported quarterly earnings of $0.56 per share, exceeding the consensus estimate, with revenue surpassing analyst expectations at $115 million.
• The company announced a quarterly dividend of $0.05 per share, with a 0.8% yield, and the dividend payout ratio currently stands at 91.54%.

SCS Capital Management LLC bought a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 605,232 shares of the financial services provider's stock, valued at approximately $13,545,000. SCS Capital Management LLC owned about 0.64% of Sixth Street Specialty Lending as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Sixth Street Specialty Lending during the 4th quarter worth approximately $27,000. AdvisorNet Financial Inc bought a new position in Sixth Street Specialty Lending during the 1st quarter worth approximately $40,000. Rossby Financial LCC bought a new position in Sixth Street Specialty Lending during the 1st quarter worth approximately $62,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $97,000. Finally, SVB Wealth LLC acquired a new stake in Sixth Street Specialty Lending in the 1st quarter valued at approximately $107,000. Institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded up $0.03 during mid-day trading on Friday, hitting $24.69. 316,427 shares of the stock traded hands, compared to its average volume of 315,307. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 12.28 and a beta of 0.85. The company's 50-day simple moving average is $24.28 and its 200-day simple moving average is $22.88. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $115.00 million for the quarter, compared to analysts' expectations 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 last year, the firm earned $0.58 EPS. As a group, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, September 15th. Sixth Street Specialty Lending's payout ratio is presently 91.54%.

Wall Street Analysts Forecast Growth

TSLX has been the topic of several analyst reports. JMP Securities raised their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company raised their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Sixth Street Specialty Lending has an average rating of "Buy" and a consensus target price of $23.28.

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.