Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC lifted its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 249,909 shares of the financial services provider’s stock after purchasing an additional 3,250 shares during the quarter. Confluence Investment Management LLC’s holdings in Sixth Street Specialty Lending were worth $5,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Sixth Street Specialty Lending by 18.6% during the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after acquiring an additional 336,596 shares during the period. Millennium Management LLC lifted its holdings in shares of Sixth Street Specialty Lending by 482.6% in the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after buying an additional 237,995 shares during the period. TrueMark Investments LLC acquired a new stake in Sixth Street Specialty Lending during the second quarter worth about $4,378,000. Baillie Gifford & Co. raised its position in Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock valued at $8,755,000 after acquiring an additional 184,634 shares in the last quarter. Finally, Significant Wealth Partners LLC grew its stake in shares of Sixth Street Specialty Lending by 949.8% during the 1st quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock worth $4,348,000 after purchasing an additional 183,571 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Up 2.7 %

Shares of Sixth Street Specialty Lending stock opened at $20.33 on Friday. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.50 and a 1-year high of $22.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 1.90. The stock has a market cap of $1.90 billion, a P/E ratio of 9.87 and a beta of 1.06. The stock’s 50 day simple moving average is $20.64 and its 200-day simple moving average is $21.06.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same period in the prior year, the business earned $0.60 EPS. Analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.05 per share. This represents a yield of 9.1%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Keefe, Bruyette & Woods dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday. Finally, LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.00.

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.