Sixth Street Specialty Lending, Inc. $TSLX Shares Sold by IFP Advisors Inc

Key Points

• IFP Advisors Inc reduced its stake in Sixth Street Specialty Lending, Inc. by 42.4%, now holding 70,817 shares valued at approximately $1.69 million.
• The company reported $0.56 earnings per share for the last quarter, beating estimates by $0.03, with revenue of $115 million.
• Sixth Street Specialty Lending recently declared a quarterly dividend of $0.05 per share, resulting in an annualized yield of 1.0% and a payout ratio of 91.54%.

IFP Advisors Inc cut its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 42.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,817 shares of the financial services provider's stock after selling 52,235 shares during the quarter. IFP Advisors Inc owned 0.08% of Sixth Street Specialty Lending worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Strs Ohio acquired a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at $79,698,000. Sound Income Strategies LLC grew its stake in shares of Sixth Street Specialty Lending by 1.9% in the second quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider's stock valued at $57,294,000 after buying an additional 45,157 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Sixth Street Specialty Lending by 7.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider's stock valued at $52,527,000 after buying an additional 154,560 shares in the last quarter. Allen Investment Management LLC grew its stake in shares of Sixth Street Specialty Lending by 24.4% in the first quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock valued at $32,114,000 after buying an additional 281,339 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Sixth Street Specialty Lending by 3.9% in the first quarter. LSV Asset Management now owns 1,177,111 shares of the financial services provider's stock valued at $26,344,000 after buying an additional 44,449 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Trading Down 0.8%

NYSE:TSLX opened at $20.88 on Friday. The stock has a 50-day simple moving average of $23.60 and a 200-day simple moving average of $22.89. The stock has a market cap of $1.97 billion, a P/E ratio of 10.39 and a beta of 0.85. 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 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 released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The business had revenue of $115.00 million during the quarter, compared to analysts' expectations of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same period in the prior year, the firm posted $0.58 EPS. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.05 per share. The ex-dividend date was Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. Sixth Street Specialty Lending's payout ratio is 91.54%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Sixth Street Specialty Lending in a report on Wednesday. JMP Securities lifted their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company lifted their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $24.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Sixth Street Specialty Lending currently has an average rating of "Moderate Buy" and an average target price of $23.56.

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.

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