Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Purchased by Plan Group Financial LLC

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 lifted its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 99.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,923 shares of the financial services provider's stock after acquiring an additional 19,362 shares during the quarter. Plan Group Financial LLC's holdings in Sixth Street Specialty Lending were worth $871,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Sixth Street Specialty Lending during the fourth quarter worth about $17,488,000. Gilman Hill Asset Management LLC boosted its holdings in Sixth Street Specialty Lending by 382.4% during the first quarter. Gilman Hill Asset Management LLC now owns 446,976 shares of the financial services provider's stock worth $10,003,000 after buying an additional 354,320 shares in the last quarter. Allen Investment Management LLC boosted its holdings in Sixth Street Specialty Lending by 24.4% during the first quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock worth $32,114,000 after buying an additional 281,339 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Sixth Street Specialty Lending during the fourth quarter worth about $4,156,000. Finally, Round Rock Advisors LLC boosted its holdings in Sixth Street Specialty Lending by 226.7% during the first quarter. Round Rock Advisors LLC now owns 274,483 shares of the financial services provider's stock worth $6,143,000 after buying an additional 190,469 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Trading Up 1.2%

Shares of TSLX traded up $0.29 on Friday, hitting $24.04. 434,969 shares of the stock traded hands, compared to its average volume of 437,133. 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 firm has a market capitalization of $2.27 billion, a P/E ratio of 11.96 and a beta of 0.84. The stock's 50 day moving average is $23.80 and its two-hundred day moving average is $22.56. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

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

Analysts Set New Price Targets

TSLX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased 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 report on Thursday, April 24th. JMP Securities upped their price target on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Raymond James Financial reduced their price target on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, B. Riley initiated coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of "Buy" and a consensus target price of $23.28.

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.