Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.5% – Should You Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price traded down 0.5% on Tuesday . The company traded as low as $21.33 and last traded at $21.34. 70,053 shares were traded during mid-day trading, a decline of 80% from the average session volume of 347,378 shares. The stock had previously closed at $21.45.

Analysts Set New Price Targets

A number of research analysts have commented on TSLX shares. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Price Performance

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm’s fifty day moving average price is $20.56 and its two-hundred day moving average price is $20.98. The stock has a market capitalization of $2.00 billion, a PE ratio of 10.36 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced 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 net margin of 39.05% and a return on equity of 13.55%. The company had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Large investors have recently made changes to their positions in the company. Private Advisor Group LLC grew its stake in shares of Sixth Street Specialty Lending by 26.8% in the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock worth $524,000 after buying an additional 5,398 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its position in Sixth Street Specialty Lending by 98.6% in the third quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock worth $2,971,000 after acquiring an additional 71,849 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Sixth Street Specialty Lending by 5.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 29,365 shares during the period. Van ECK Associates Corp lifted its position in Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after buying an additional 141,463 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Sixth Street Specialty Lending by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after purchasing an additional 79,000 shares during the period. 70.25% of the stock is owned by institutional investors.

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.