Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Acquired by Grimes & Company Inc.

Grimes & Company Inc. increased its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 16.4% during the third quarter, Holdings Channel reports. The fund owned 18,400 shares of the financial services provider’s stock after purchasing an additional 2,591 shares during the quarter. Grimes & Company Inc.’s holdings in Sixth Street Specialty Lending were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TSLX. Register Financial Advisors LLC increased its stake in Sixth Street Specialty Lending by 15.5% during the 1st quarter. Register Financial Advisors LLC now owns 7,574 shares of the financial services provider’s stock valued at $162,000 after buying an additional 1,018 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Sixth Street Specialty Lending by 6.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 157,060 shares of the financial services provider’s stock valued at $3,366,000 after buying an additional 10,030 shares during the period. Mirador Capital Partners LP increased its stake in Sixth Street Specialty Lending by 2.9% during the 1st quarter. Mirador Capital Partners LP now owns 37,111 shares of the financial services provider’s stock valued at $795,000 after buying an additional 1,037 shares during the period. Naviter Wealth LLC acquired a new position in Sixth Street Specialty Lending during the 1st quarter valued at about $1,326,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Sixth Street Specialty Lending by 3.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 310,322 shares of the financial services provider’s stock valued at $6,650,000 after buying an additional 9,510 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Activity

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 $372,647.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $20.75 on Friday. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.02 and a twelve month high of $22.35. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average of $20.79 and a 200-day moving average of $21.10. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 8.37 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $120.33 million. During the same quarter last year, the firm posted $0.58 EPS. Analysts forecast 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 firm also recently disclosed 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. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 8.87%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

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.