LGT Capital Partners LTD. Has $8.84 Million Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• LGT Capital Partners LTD. reduced its position in Sixth Street Specialty Lending's shares by 39.7%, selling 260,000 shares during the first quarter, leaving it with a 0.42% ownership worth approximately $8.84 million.
• Several research firms adjusted their price targets for Sixth Street Specialty Lending, with analysts giving it a consensus target of $23.06 and an average rating of "Buy."
• Sixth Street Specialty Lending announced a significant dividend increase, raising it to $0.46 per share, which equates to a yield of 770.0%, up from the previous dividend of $0.06.

LGT Capital Partners LTD. cut its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 39.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 395,000 shares of the financial services provider's stock after selling 260,000 shares during the period. LGT Capital Partners LTD. owned 0.42% of Sixth Street Specialty Lending worth $8,840,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc acquired a new position in Sixth Street Specialty Lending in the first quarter valued at approximately $40,000. Rossby Financial LCC acquired a new position in Sixth Street Specialty Lending during the first quarter worth $62,000. Redmont Wealth Advisors LLC purchased a new position in Sixth Street Specialty Lending in the first quarter valued at $97,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth about $109,000. Institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded down $0.12 during midday trading on Thursday, reaching $23.89. 138,756 shares of the stock were exchanged, compared to its average volume of 474,653. The company's fifty day moving average is $23.78 and its 200-day moving average is $22.53. The firm has a market cap of $2.25 billion, a PE ratio of 11.88 and a beta of 0.84. 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 debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings results 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 net margin of 39.56% and a return on equity of 13.47%. The business had revenue of $115.00 million during the quarter, compared to analyst estimates of $110.42 million. During the same period in the prior year, the business posted $0.58 earnings per share. On average, sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.46 dividend. This is an increase from Sixth Street Specialty Lending's previous -- dividend of $0.06. This represents a dividend yield of 770.0%. The ex-dividend date is Monday, September 15th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is 91.54%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSLX. B. Riley began coverage on shares of Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price objective for the company. Raymond James Financial dropped 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 research report on Friday, May 2nd. JMP Securities lifted 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 research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped 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 research report on Friday, August 1st. One 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 company's stock. Based on data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of "Buy" and an average price target of $23.28.

Sixth Street Specialty Lending Company 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.