Ross Anthony Bruck Purchases 8,000 Shares of Sixth Street Specialty Lending (NYSE:TSLX) Stock

Key Points

• Insider buying: Sixth Street Specialty Lending VP Ross Anthony Bruck bought 8,000 shares at $17.76 each, increasing his stake by 78% to 18,250 shares worth about $324,120.
• Dividend raised: The company announced a quarterly dividend of $0.42 per share, payable June 30, which annualizes to $1.68 per share and implies a 9.7% yield.
• Mixed operating and market picture: TSLX missed Q1 earnings and revenue estimates, and the stock was down 1.4% to $17.38. Analysts currently hold a Moderate Buy consensus rating with an average price target of $19.83.

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) VP Ross Anthony Bruck bought 8,000 shares of the business's stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the completion of the purchase, the vice president owned 18,250 shares of the company's stock, valued at approximately $324,120. The trade was a 78.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Sixth Street Specialty Lending Stock Down 1.4%

Sixth Street Specialty Lending stock traded down $0.26 during mid-day trading on Wednesday, reaching $17.38. The stock had a trading volume of 1,033,789 shares, compared to its average volume of 930,043. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.11 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. Sixth Street Specialty Lending, Inc. has a one year low of $16.99 and a one year high of $25.17. The company has a 50-day moving average price of $18.33 and a two-hundred day moving average price of $20.27.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same quarter in the prior year, the company posted $0.58 EPS. On average, analysts expect that Sixth Street Specialty Lending, Inc. will post 1.76 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, June 15th. This represents a $1.68 annualized dividend and a yield of 9.7%. This is a positive change from Sixth Street Specialty Lending's previous quarterly dividend of $0.01. Sixth Street Specialty Lending's dividend payout ratio (DPR) is 160.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citizens Jmp decreased their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 22nd. Zacks Research cut Sixth Street Specialty Lending from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Truist Financial lowered their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Sixth Street Specialty Lending from a "hold" rating to a "sell" rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.83.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Sixth Street Specialty Lending by 8.0% during the 1st quarter. Royal Bank of Canada now owns 124,241 shares of the financial services provider's stock valued at $2,780,000 after purchasing an additional 9,230 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Sixth Street Specialty Lending by 38.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider's stock worth $370,000 after purchasing an additional 4,597 shares during the period. Invesco Ltd. lifted its stake in shares of Sixth Street Specialty Lending by 8.0% in the 2nd quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider's stock worth $729,000 after purchasing an additional 2,263 shares during the period. Marshall Wace LLP boosted its holdings in shares of Sixth Street Specialty Lending by 186.6% in the second quarter. Marshall Wace LLP now owns 75,811 shares of the financial services provider's stock worth $1,805,000 after buying an additional 49,362 shares during the last quarter. Finally, Glenview Trust co purchased a new position in shares of Sixth Street Specialty Lending in the second quarter worth approximately $231,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc NYSE: TSLX is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.

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