Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.3% – Should You Sell?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) was down 0.3% during mid-day trading on Wednesday . The company traded as low as $21.39 and last traded at $21.39. Approximately 30,703 shares were traded during trading, a decline of 91% from the average daily volume of 345,704 shares. The stock had previously closed at $21.46.

Wall Street Analyst Weigh In

TSLX has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased 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 reiterated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. 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 objective for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.0 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a 50-day moving average price of $20.72 and a two-hundred day moving average price of $20.99. The stock has a market capitalization of $1.99 billion, a PE ratio of 10.37 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $119.22 million during the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same period last year, the firm posted $0.60 EPS. As a group, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Institutional Trading of Sixth Street Specialty Lending

Several institutional investors have recently added to or reduced their stakes in TSLX. nVerses Capital LLC purchased a new stake in Sixth Street Specialty Lending in the 2nd quarter valued at about $70,000. Ridgewood Investments LLC purchased a new stake in Sixth Street Specialty Lending during the second quarter worth $77,000. Quarry LP boosted its position in Sixth Street Specialty Lending by 378.3% during the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 3,238 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $86,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth $109,000. Institutional investors own 70.25% of the company’s stock.

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.