Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Short Interest Up 26.6% in May

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 2,380,000 shares, a growth of 26.6% from the April 30th total of 1,880,000 shares. Based on an average daily trading volume, of 508,700 shares, the days-to-cover ratio is currently 4.7 days. Currently, 2.6% of the company's shares are sold short.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors have recently bought and sold shares of TSLX. Chicago Partners Investment Group LLC purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $409,000. abrdn plc lifted its holdings in Sixth Street Specialty Lending by 23.5% during the 4th quarter. abrdn plc now owns 124,313 shares of the financial services provider's stock worth $2,647,000 after buying an additional 23,662 shares during the last quarter. Columbus Macro LLC purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $7,669,000. Stratos Wealth Advisors LLC purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $545,000. Finally, Country Club Bank purchased a new stake in Sixth Street Specialty Lending during the 4th quarter worth about $487,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Stock Up 0.3%

NYSE:TSLX traded up $0.07 during midday trading on Friday, reaching $23.36. The company had a trading volume of 258,027 shares, compared to its average volume of 370,019. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.51 and a beta of 0.82. The stock's fifty day simple moving average is $21.44 and its 200-day simple moving average is $21.73. Sixth Street Specialty Lending has a 12-month low of $18.58 and a 12-month high of $23.67. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18.

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

Sixth Street Specialty Lending Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective 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 dropped their price objective 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. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday, February 14th. Royal Bank of Canada lifted their price objective on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $22.81.

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.