Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Stake Increased by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. increased its stake in Sixth Street Specialty Lending by 21.8%, acquiring a total of 373,254 shares valued at approximately $8.35 million.
• Several institutional investors, including Cetera Investment Advisers and Muzinich & Co. Inc., have also boosted their holdings, contributing to 70.25% of the stock being owned by institutional investors and hedge funds.
• The company recently cut its dividend to $0.06 with a yield of 9.21%, as it reported earnings of $0.58 per share, exceeding the consensus estimate of $0.56.

Baillie Gifford & Co. boosted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 21.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 373,254 shares of the financial services provider's stock after purchasing an additional 66,825 shares during the period. Baillie Gifford & Co. owned about 0.40% of Sixth Street Specialty Lending worth $8,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in shares of Sixth Street Specialty Lending by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider's stock worth $10,046,000 after acquiring an additional 33,818 shares during the last quarter. Principle Wealth Partners LLC purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter valued at $294,000. Ignite Planners LLC grew its position in shares of Sixth Street Specialty Lending by 4.5% in the 1st quarter. Ignite Planners LLC now owns 46,349 shares of the financial services provider's stock valued at $953,000 after buying an additional 1,987 shares during the last quarter. Muzinich & Co. Inc. grew its position in shares of Sixth Street Specialty Lending by 14.7% in the 1st quarter. Muzinich & Co. Inc. now owns 450,142 shares of the financial services provider's stock valued at $10,074,000 after buying an additional 57,724 shares during the last quarter. Finally, Dakota Wealth Management purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter valued at $811,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on TSLX shares. 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 note on Thursday, April 24th. Raymond James Financial dropped their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. B. Riley started coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective on the stock. Finally, Wells Fargo & Company reduced 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 analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Trading Down 0.3%

Shares of NYSE TSLX traded down $0.07 during midday trading on Wednesday, reaching $23.80. 110,608 shares of the stock were exchanged, compared to its average volume of 473,005. The company has a market capitalization of $2.24 billion, a P/E ratio of 12.59 and a beta of 0.83. Sixth Street Specialty Lending, Inc. has a 52-week low of $18.58 and a 52-week high of $25.17. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average price of $23.63 and a 200-day moving average price of $22.43.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The firm had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Equities research analysts expect 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 business also recently announced a dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were issued a $0.06 dividend. 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.