Short Interest in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Drops By 27.2%

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,100,000 shares, a decline of 27.2% from the March 31st total of 1,510,000 shares. Based on an average trading volume of 421,800 shares, the short-interest ratio is presently 2.6 days.

Sixth Street Specialty Lending Trading Up 2.6 %

NYSE:TSLX traded up $0.55 on Friday, reaching $21.68. 473,585 shares of the company's stock were exchanged, compared to its average volume of 354,734. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 8.34 and a beta of 1.04. The business has a fifty day moving average of $21.15 and a 200-day moving average of $21.08. Sixth Street Specialty Lending has a 52-week low of $17.31 and a 52-week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.04. Sixth Street Specialty Lending had a net margin of 50.69% and a return on equity of 13.67%. The company had revenue of $119.50 million for the quarter, compared to analyst estimates of $115.18 million. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, analysts expect that Sixth Street Specialty Lending will post 2.35 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Sixth Street Specialty Lending's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.48%. Sixth Street Specialty Lending's payout ratio is currently 70.77%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently made changes to their positions in TSLX. Melia Wealth LLC acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth about $15,144,000. MGO One Seven LLC boosted its holdings in Sixth Street Specialty Lending by 3,380.9% in the fourth quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider's stock valued at $11,964,000 after purchasing an additional 537,964 shares in the last quarter. Allen Investment Management LLC boosted its holdings in Sixth Street Specialty Lending by 956.1% in the third quarter. Allen Investment Management LLC now owns 340,760 shares of the financial services provider's stock valued at $6,965,000 after purchasing an additional 308,493 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Sixth Street Specialty Lending by 103,655.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 294,666 shares of the financial services provider's stock valued at $6,365,000 after purchasing an additional 294,382 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new position in Sixth Street Specialty Lending in the first quarter valued at approximately $5,212,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an "overweight" rating in a report on Monday, January 29th. Royal Bank of Canada boosted their price objective on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. JMP Securities restated a "market outperform" rating and issued a $22.50 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Finally, Truist Financial boosted their price objective on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Sixth Street Specialty Lending has an average rating of "Moderate Buy" and a consensus price target of $22.60.

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.