Plan Group Financial LLC Buys 19,362 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• Plan Group Financial LLC significantly increased its stake in Sixth Street Specialty Lending by 99.0% during the first quarter, owning 38,923 shares worth approximately $871,000 as of the latest SEC filing.
• Sixth Street Specialty Lending recently announced a dividend of $0.46 per share, which reflects a substantial increase from the previous dividend of $0.06, resulting in a dividend yield of 770.0%.
• The company's latest earnings report showed a profit of $0.56 per share, surpassing analyst expectations, with anticipated annual earnings projected at $2.19 per share.

Plan Group Financial LLC raised its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 99.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 38,923 shares of the financial services provider's stock after acquiring an additional 19,362 shares during the period. Plan Group Financial LLC's holdings in Sixth Street Specialty Lending were worth $871,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLX. Cornerstone Wealth Management LLC raised its stake in Sixth Street Specialty Lending by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 46,732 shares of the financial services provider's stock worth $1,046,000 after acquiring an additional 548 shares during the period. Mallini Complete Financial Planning LLC raised its stake in Sixth Street Specialty Lending by 4.5% during the first quarter. Mallini Complete Financial Planning LLC now owns 13,028 shares of the financial services provider's stock worth $292,000 after acquiring an additional 558 shares during the period. Parallel Advisors LLC raised its stake in Sixth Street Specialty Lending by 4.3% during the first quarter. Parallel Advisors LLC now owns 20,708 shares of the financial services provider's stock worth $463,000 after acquiring an additional 848 shares during the period. Tidal Investments LLC raised its stake in Sixth Street Specialty Lending by 2.3% during the fourth quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider's stock worth $1,109,000 after acquiring an additional 1,168 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at approximately $27,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded down $0.23 during trading on Thursday, hitting $23.77. The company had a trading volume of 418,883 shares, compared to its average volume of 440,473. 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 quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The stock's 50-day moving average is $23.79 and its two-hundred day moving average is $22.54. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 11.83 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%. The firm had revenue of $115.00 million during the quarter, compared to analyst estimates of $110.42 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.46 dividend. This represents a yield of 770.0%. The ex-dividend date is Monday, September 15th. This is a positive change from Sixth Street Specialty Lending's previous -- dividend of $0.06. Sixth Street Specialty Lending's dividend payout ratio is 91.54%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Raymond James Financial lowered 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. Wells Fargo & Company raised their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JMP Securities raised their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a report on Wednesday. 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 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to 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.