Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 20.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,523 shares of the financial services provider’s stock after selling 11,111 shares during the period. Cubist Systematic Strategies LLC’s holdings in Sixth Street Specialty Lending were worth $908,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at about $35,000. Security National Bank acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter worth approximately $68,000. nVerses Capital LLC bought a new position in Sixth Street Specialty Lending in the 2nd quarter worth approximately $70,000. Ridgewood Investments LLC acquired a new stake in Sixth Street Specialty Lending in the 2nd quarter valued at approximately $77,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Sixth Street Specialty Lending in the 1st quarter valued at approximately $90,000. 70.25% of the stock is currently owned by institutional investors.

Insider Activity at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin bought 7,015 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the completion of the acquisition, the director now directly owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.30% of the stock is currently owned by corporate insiders.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $20.34 on Thursday. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.02 and a 1 year high of $22.35. The firm has a market cap of $1.89 billion, a P/E ratio of 8.20 and a beta of 1.06. The stock has a fifty day moving average price of $20.80 and a two-hundred day moving average price of $21.15. 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 (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $121.82 million for the quarter, compared to analysts’ expectations of $120.33 million. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. During the same quarter in the previous year, the company posted $0.58 EPS. Research 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 was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.05%. Sixth Street Specialty Lending’s payout ratio is 74.19%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.