Texas Capital Bank Wealth Management Services Inc Buys 11,111 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Key Points

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Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 139,805 shares of the financial services provider's stock after buying an additional 11,111 shares during the period. Texas Capital Bank Wealth Management Services Inc owned 0.15% of Sixth Street Specialty Lending worth $3,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Progeny 3 Inc. increased its stake in shares of Sixth Street Specialty Lending by 6.1% during the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider's stock valued at $50,921,000 after buying an additional 137,906 shares during the period. Sound Income Strategies LLC increased its stake in shares of Sixth Street Specialty Lending by 2.4% during the first quarter. Sound Income Strategies LLC now owns 2,361,139 shares of the financial services provider's stock valued at $52,842,000 after buying an additional 55,767 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Sixth Street Specialty Lending by 7.0% during 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 during the period. Allen Investment Management LLC increased its stake in shares of 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 valued at $32,114,000 after buying an additional 281,339 shares during the period. Finally, LSV Asset Management increased its stake in shares of Sixth Street Specialty Lending by 3.9% during 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 during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Stock Down 1.0%

TSLX stock traded down $0.25 during midday trading on Friday, hitting $24.10. The stock had a trading volume of 441,247 shares, compared to its average volume of 447,774. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The business has a 50-day moving average of $23.96 and a two-hundred day moving average of $22.70. Sixth Street Specialty Lending, Inc. has a 52-week low of $18.58 and a 52-week high of $25.17. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 11.99 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate 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 business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. During the same period in the previous year, the company posted $0.58 earnings per share. As a group, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, September 1st will be issued a $0.05 dividend. This represents a yield of 864.0%. The ex-dividend date of this dividend is Friday, August 29th. Sixth Street Specialty Lending's payout ratio is 91.54%.

Analysts Set New Price Targets

TSLX has been the topic of several research analyst reports. Raymond James Financial reduced their target price on 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. B. Riley started coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target on the stock. Wells Fargo & Company upped their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, JMP Securities upped their price target on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently 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.