Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Stock Position Raised by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,599 shares of the financial services provider’s stock after buying an additional 2,859 shares during the quarter. Cornerstone Wealth Management LLC owned approximately 0.05% of Sixth Street Specialty Lending worth $999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLX. Envestnet Asset Management Inc. lifted its position in Sixth Street Specialty Lending by 18.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 279,883 shares of the financial services provider’s stock worth $5,721,000 after buying an additional 43,501 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Sixth Street Specialty Lending by 4.7% during the 3rd quarter. LPL Financial LLC now owns 362,462 shares of the financial services provider’s stock valued at $7,409,000 after purchasing an additional 16,133 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Sixth Street Specialty Lending during the 3rd quarter valued at $381,000. Toroso Investments LLC raised its holdings in shares of Sixth Street Specialty Lending by 6.4% during the 3rd quarter. Toroso Investments LLC now owns 39,091 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 2,368 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in shares of Sixth Street Specialty Lending by 4.2% during the 3rd quarter. Advisors Capital Management LLC now owns 682,873 shares of the financial services provider’s stock valued at $13,958,000 after purchasing an additional 27,689 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX traded down $0.02 during midday trading on Thursday, reaching $21.74. The stock had a trading volume of 181,018 shares, compared to its average volume of 305,891. Sixth Street Specialty Lending, Inc. has a 1-year low of $18.45 and a 1-year high of $22.35. The firm’s fifty day simple moving average is $21.47 and its 200-day simple moving average is $21.41. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $2.02 billion, a P/E ratio of 8.77 and a beta of 1.05.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Sixth Street Specialty Lending had a net margin of 47.16% and a return on equity of 13.74%. The firm had revenue of $117.78 million during the quarter, compared to analyst estimates of $118.44 million. On average, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 3rd were given a $0.06 dividend. The ex-dividend date was Friday, May 31st. This represents a yield of 7.63%. Sixth Street Specialty Lending’s dividend payout ratio is 74.19%.

Analyst Upgrades and Downgrades

TSLX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their price target on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. JMP Securities restated a “market outperform” rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

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.