Melia Wealth LLC Purchases 10,272 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• Melia Wealth LLC increased its holdings in Sixth Street Specialty Lending by 1.8% during the first quarter, now owning 593,749 shares valued at approximately $13.29 million.
• Sixth Street Specialty Lending announced a dividend of $0.06 per share, which translates to a yield of 9.21%, while its payout ratio is at 97.35%.
• Despite reporting earnings per share of $0.58 for the recent quarter, which surpassed estimates, its revenue fell short of expectations at $113.92 million.

Melia Wealth LLC lifted its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 593,749 shares of the financial services provider's stock after buying an additional 10,272 shares during the quarter. Sixth Street Specialty Lending makes up approximately 6.9% of Melia Wealth LLC's portfolio, making the stock its 9th biggest position. Melia Wealth LLC owned 0.63% of Sixth Street Specialty Lending worth $13,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of Sixth Street Specialty Lending by 108.5% during the first quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider's stock worth $6,196,000 after buying an additional 144,096 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Sixth Street Specialty Lending by 15.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider's stock worth $9,749,000 after purchasing an additional 57,962 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sixth Street Specialty Lending during the first quarter worth approximately $201,000. Magnus Financial Group LLC purchased a new stake in Sixth Street Specialty Lending during the first quarter worth approximately $322,000. Finally, BNP Paribas Financial Markets purchased a new stake in Sixth Street Specialty Lending during the fourth quarter worth approximately $1,035,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLX has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th. B. Riley initiated coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 target price for the company. Wells Fargo & Company decreased their target price on 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. Finally, Raymond James Financial reduced their price objective on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock traded up $0.72 during trading hours on Thursday, hitting $24.38. 440,888 shares of the company were exchanged, compared to its average volume of 475,123. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year 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 business has a 50-day moving average of $23.66 and a 200-day moving average of $22.44. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 12.90 and a beta of 0.83.

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 for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. Sixth Street Specialty Lending had a return on equity of 13.60% and a net margin of 36.59%. The firm had revenue of $115.00 million for the quarter, compared to analyst estimates of $110.42 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were issued a dividend of $0.06 per share. This represents a yield of 9.21%. The ex-dividend date of this dividend was Friday, May 30th. Sixth Street Specialty Lending's dividend payout ratio is presently 97.35%.

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.