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

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

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently made changes to their positions in TSLX. Strs Ohio purchased a new stake in shares of Sixth Street Specialty Lending during the first quarter valued at approximately $79,698,000. Raymond James Financial Inc. bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $17,488,000. SCS Capital Management LLC bought a new position in Sixth Street Specialty Lending during the first quarter valued at approximately $13,545,000. Gilman Hill Asset Management LLC lifted its position in Sixth Street Specialty Lending by 382.4% during the first quarter. Gilman Hill Asset Management LLC now owns 446,976 shares of the financial services provider's stock valued at $10,003,000 after purchasing an additional 354,320 shares during the period. Finally, Allen Investment Management LLC lifted its position in Sixth Street Specialty Lending by 24.4% during the first quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock valued at $32,114,000 after purchasing an additional 281,339 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target on the stock. Truist Financial boosted their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced 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 research report on Thursday, April 24th. Wells Fargo & Company reduced their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Raymond James reduced their price target on shares of 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Stock Down 0.8%

TSLX traded down $0.18 during midday trading on Friday, reaching $23.32. The company's stock had a trading volume of 335,741 shares, compared to its average volume of 371,532. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.49 and a beta of 0.83. 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 has a 1 year low of $18.58 and a 1 year high of $23.75. The stock's 50-day moving average is $21.72 and its 200-day moving average is $21.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The firm had revenue of $113.92 billion for the quarter, compared to analysts' expectations of $116.70 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. As a group, research analysts expect that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.06 per share. This represents a dividend yield of 9.21%. The ex-dividend date is Friday, May 30th. 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.

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