Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Short Interest Update

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 3,760,000 shares, a growth of 58.0% from the May 15th total of 2,380,000 shares. Approximately 4.2% of the company's shares are short sold. Based on an average daily volume of 501,100 shares, the short-interest ratio is currently 7.5 days.

Analyst Ratings Changes

TSLX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target 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. Truist Financial raised their target price on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. B. Riley assumed coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company. Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Raymond James Financial cut their price objective on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. 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 company's stock. According to data from MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of "Buy" and an average price target of $22.81.

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently added to or reduced their stakes in TSLX. Strs Ohio bought a new stake in shares of Sixth Street Specialty Lending during the 1st quarter valued at $79,698,000. Advisors Capital Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 1.4% during the first quarter. Advisors Capital Management LLC now owns 704,608 shares of the financial services provider's stock valued at $15,769,000 after buying an additional 9,992 shares during the last quarter. SCS Capital Management LLC purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $13,545,000. Integrated Wealth Concepts LLC increased its position in shares of Sixth Street Specialty Lending by 38.5% during the first quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 4,597 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Sixth Street Specialty Lending by 4.0% during the first quarter. Advisors Asset Management Inc. now owns 177,290 shares of the financial services provider's stock valued at $3,968,000 after acquiring an additional 6,809 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Trading Up 1.5%

TSLX stock traded up $0.34 during trading on Wednesday, reaching $23.04. The company had a trading volume of 454,708 shares, compared to its average volume of 372,587. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06. Sixth Street Specialty Lending has a 52 week low of $18.58 and a 52 week high of $23.75. The business has a 50 day moving average of $21.83 and a 200 day moving average of $21.84. The company has a market cap of $2.16 billion, a P/E ratio of 12.19 and a beta of 0.83.

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. The firm had revenue of $113.92 billion for the quarter, compared to the consensus estimate of $116.70 million. Sixth Street Specialty Lending had a return on equity of 13.60% and a net margin of 36.59%. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, sell-side analysts forecast that Sixth Street Specialty Lending will post 2.19 earnings per share 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. Investors of record on Monday, June 2nd will be paid a $0.06 dividend. The ex-dividend date is Friday, May 30th. This represents a yield of 9.21%. Sixth Street Specialty Lending's payout ratio is 97.35%.

About Sixth Street Specialty Lending

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.