Two Sigma Investments LP Lowers Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Two Sigma Investments LP cut its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 460,690 shares of the financial services provider's stock after selling 90,253 shares during the period. Two Sigma Investments LP owned about 0.49% of Sixth Street Specialty Lending worth $9,813,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TSLX. Tidal Investments LLC boosted its position in Sixth Street Specialty Lending by 2.3% in the fourth quarter. Tidal Investments LLC now owns 52,051 shares of the financial services provider's stock worth $1,109,000 after purchasing an additional 1,168 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Sixth Street Specialty Lending by 16.0% during the 4th quarter. ProShare Advisors LLC now owns 18,086 shares of the financial services provider's stock worth $385,000 after purchasing an additional 2,489 shares during the period. Progeny 3 Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 6.1% in the 4th quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider's stock worth $50,921,000 after buying an additional 137,906 shares during the last quarter. Parkwood LLC bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at about $3,937,000. Finally, Lazard Asset Management LLC grew its position in Sixth Street Specialty Lending by 50.8% during the fourth quarter. Lazard Asset Management LLC now owns 38,617 shares of the financial services provider's stock valued at $822,000 after buying an additional 13,006 shares during the period. 70.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLX has been the subject of a number of research reports. Truist Financial increased their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Raymond James cut their price target 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. JPMorgan Chase & Co. dropped 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. Finally, Wells Fargo & Company reduced their target price on shares of 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. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Price Performance

Shares of TSLX traded down $0.05 during midday trading on Friday, hitting $23.06. 125,770 shares of the company traded hands, compared to its average volume of 369,008. Sixth Street Specialty Lending, Inc. has a one year low of $18.58 and a one year high of $23.67. The firm has a market cap of $2.17 billion, a P/E ratio of 11.37 and a beta of 0.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day moving average of $21.33 and a 200-day moving average of $21.59.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The business had revenue of $113.92 billion for the quarter, compared to analyst estimates of $116.70 million. During the same quarter in the prior year, the firm posted $0.52 EPS. As a group, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending's payout ratio is currently 97.35%.

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.