Sixth Street Specialty Lending (NYSE:TSLX) Shares Break Above Fifty Day Moving Average - Here's What Happened

Key Points

• TSLX shares moved above their 50-day moving average, reaching $18.33 and last trading at $18.1640, up 3.0%. The company has a $1.73 billion market capitalization.
• Analyst sentiment is generally positive, with five Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $19.83.
• Sixth Street Specialty Lending exceeded quarterly expectations, reporting $0.43 in earnings per share versus a $0.42 consensus estimate and $97.84 million in revenue versus $95.28 million expected.

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $17.85 and traded as high as $18.33. Sixth Street Specialty Lending shares last traded at $18.1640, with a volume of 764,706 shares.

Wall Street Analysts Forecast Growth

TSLX has been the subject of a number of research reports. Wall Street Zen upgraded Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods raised their target price on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an "outperform" rating in a report on Monday, August 10th. Zacks Research upgraded shares of Sixth Street Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.83.

Sixth Street Specialty Lending Trading Up 3.0%

The stock has a market cap of $1.73 billion, a P/E ratio of 19.12 and a beta of 0.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The stock's fifty day moving average is $17.85 and its 200 day moving average is $18.24.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%. The company had revenue of $97.84 million for the quarter, compared to analysts' expectations of $95.28 million. During the same period in the previous year, the firm posted $0.56 earnings per share. As a group, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 1.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several large investors have recently modified their holdings of TSLX. Latitude Advisors LLC purchased a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $39,000. Burk Holdings LLC bought a new stake in Sixth Street Specialty Lending in the second quarter worth $51,000. Fifth Third Bancorp purchased a new position in Sixth Street Specialty Lending during the first quarter worth $63,000. Frazier Financial Advisors LLC purchased a new position in Sixth Street Specialty Lending during the second quarter worth $83,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Sixth Street Specialty Lending during the second quarter worth $96,000. Institutional investors own 70.25% of the company's stock.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc is a business development company (BDC) that provides financing to middle-market companies. The company primarily invests in privately negotiated debt and equity investments, with a focus on supporting businesses that may have limited access to traditional bank financing.

Its investment portfolio generally includes first-lien and second-lien loans, unitranche financing, mezzanine debt, and related equity investments. Sixth Street Specialty Lending seeks to generate income through interest payments and other investment returns while providing customized financing solutions for acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate purposes.

The company was formed in 2011 and is externally managed by an affiliate of Sixth Street, an investment firm focused on credit and other asset classes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.