1832 Asset Management L.P. Boosts Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

1832 Asset Management L.P. grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,279,000 shares of the financial services provider’s stock after acquiring an additional 79,000 shares during the quarter. 1832 Asset Management L.P.’s holdings in Sixth Street Specialty Lending were worth $27,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sound Income Strategies LLC increased its stake in Sixth Street Specialty Lending by 4.0% in the 1st 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 shares of Sixth Street Specialty Lending during the first quarter worth approximately $5,212,000. Baillie Gifford & Co. raised its stake in shares of Sixth Street Specialty Lending by 41.7% during the first quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock valued at $4,831,000 after acquiring an additional 66,348 shares in the last quarter. MGO One Seven LLC boosted its holdings 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 valued at $11,964,000 after purchasing an additional 537,964 shares during the period. Finally, Naviter Wealth LLC bought a new position in Sixth Street Specialty Lending in the first quarter worth approximately $1,326,000. 70.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Judy S. Slotkin purchased 7,015 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the acquisition, the director now owns 18,726 shares of the company’s stock, valued at $372,647.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Sixth Street Specialty Lending Price Performance

NYSE TSLX opened at $20.62 on Tuesday. The company has a market cap of $1.91 billion, a PE ratio of 8.31 and a beta of 1.06. The firm’s 50 day moving average price is $20.93 and its 200-day moving average price is $21.18. 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 earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $121.82 million for the quarter, compared to analysts’ expectations of $120.33 million. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. During the same quarter last year, the firm earned $0.58 EPS. Sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS 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 paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 8.93%. The ex-dividend date is Monday, September 16th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. Sixth Street Specialty Lending’s payout ratio is 74.19%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

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.