Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,361,139 shares of the financial services provider's stock after purchasing an additional 55,767 shares during the period. Sixth Street Specialty Lending accounts for about 3.1% of Sound Income Strategies LLC's holdings, making the stock its 2nd biggest position. Sound Income Strategies LLC owned about 2.52% of Sixth Street Specialty Lending worth $52,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLX. Family Wealth Partners LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth about $201,000. Magnus Financial Group LLC purchased a new stake in Sixth Street Specialty Lending in the 1st quarter worth approximately $322,000. Gilman Hill Asset Management LLC grew its stake in Sixth Street Specialty Lending by 382.4% in the 1st quarter. Gilman Hill Asset Management LLC now owns 446,976 shares of the financial services provider's stock worth $10,003,000 after acquiring an additional 354,320 shares during the period. Parallel Advisors LLC raised its holdings in Sixth Street Specialty Lending by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 20,708 shares of the financial services provider's stock valued at $463,000 after acquiring an additional 848 shares during the last quarter. Finally, AdvisorNet Financial Inc purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial upped their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Raymond James Financial lowered their price target on 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. 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 on the stock. JPMorgan Chase & Co. decreased their target price 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Trading Up 1.5%

Shares of NYSE:TSLX traded up $0.34 during trading on Wednesday, reaching $23.04. 454,684 shares of the stock were exchanged, compared to its average volume of 372,587. The firm's 50-day moving average price is $21.83 and its 200 day moving average price is $21.84. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 12.19 and a beta of 0.83. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $23.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.06 and a current ratio of 3.06.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $113.92 billion for the quarter, compared to analyst estimates 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 last year, the company posted $0.52 earnings per share. On average, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending's payout ratio is currently 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.