Hennion & Walsh Asset Management Inc. Decreases Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,988 shares of the financial services provider’s stock after selling 18,842 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Sixth Street Specialty Lending were worth $3,182,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Van ECK Associates Corp raised its holdings in Sixth Street Specialty Lending by 18.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock valued at $45,859,000 after acquiring an additional 336,596 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Sixth Street Specialty Lending by 482.6% in the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $6,134,000 after purchasing an additional 237,995 shares during the last quarter. TrueMark Investments LLC purchased a new position in Sixth Street Specialty Lending during the second quarter worth approximately $4,378,000. Baillie Gifford & Co. boosted its stake in Sixth Street Specialty Lending by 81.9% during the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock worth $8,755,000 after buying an additional 184,634 shares during the last quarter. Finally, Significant Wealth Partners LLC grew its holdings in Sixth Street Specialty Lending by 949.8% in the 1st quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock valued at $4,348,000 after buying an additional 183,571 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sixth Street Specialty Lending Trading Up 0.8 %

TSLX opened at $20.75 on Friday. The business’s 50 day moving average price is $20.79 and its 200 day moving average price is $21.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $1.92 billion, a PE ratio of 8.37 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a one year low of $19.02 and a one year high of $22.35.

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

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 8.87%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, September 16th. Sixth Street Specialty Lending’s dividend payout ratio is 74.19%.

Insider Activity

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin acquired 7,015 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $19.90 per share, with a total value of $139,598.50. Following the completion of the purchase, the director now owns 18,726 shares in the company, valued at $372,647.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Sixth Street Specialty Lending 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.