Burgundy Asset Management Ltd. Has $44.96 Million Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Burgundy Asset Management Ltd. increased its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,105,853 shares of the financial services provider’s stock after purchasing an additional 29,034 shares during the period. Burgundy Asset Management Ltd. owned about 2.26% of Sixth Street Specialty Lending worth $44,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLX. Sound Income Strategies LLC boosted its position in shares of Sixth Street Specialty Lending by 4.0% in the first quarter. Sound Income Strategies LLC now owns 2,070,259 shares of the financial services provider’s stock worth $44,366,000 after buying an additional 80,581 shares during the period. Confluence Investment Management LLC purchased a new position in Sixth Street Specialty Lending during the 1st quarter valued at about $5,212,000. Baillie Gifford & Co. increased its holdings in shares of Sixth Street Specialty Lending by 41.7% in the 1st quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock valued at $4,831,000 after purchasing an additional 66,348 shares during the period. MGO One Seven LLC lifted its position in shares of Sixth Street Specialty Lending by 3,380.9% in the fourth quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock worth $11,964,000 after purchasing an additional 537,964 shares in the last quarter. Finally, Naviter Wealth LLC acquired a new stake in shares of Sixth Street Specialty Lending during the first quarter worth approximately $1,326,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Trading Down 1.3 %

Shares of NYSE TSLX opened at $20.43 on Thursday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 8.24 and a beta of 1.06. The business has a 50 day simple moving average of $21.01 and a 200 day simple moving average of $21.19. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending, Inc. has a 52 week low of $19.02 and a 52 week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The company had revenue of $121.82 million for the quarter, compared to analyst estimates of $120.33 million. During the same quarter in the prior year, the business posted $0.58 EPS. On average, research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.46 per share. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 annualized dividend and a yield of 9.01%. The ex-dividend date is Monday, September 16th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

Analyst Ratings Changes

Separately, 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 note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Insiders Place Their Bets

In related news, Director Judy S. Slotkin acquired 7,015 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $19.90 per share, with a total value of $139,598.50. Following the acquisition, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.30% 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.