Wells Fargo & Company Issues Pessimistic Forecast for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its target price decreased by equities researchers at Wells Fargo & Company from $22.00 to $21.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.92% from the stock’s current price.

Separately, Royal Bank of Canada restated 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.42.

Sixth Street Specialty Lending Stock Down 0.2 %

Sixth Street Specialty Lending stock opened at $20.41 on Tuesday. The firm has a 50 day moving average price of $20.77 and a 200 day moving average price of $21.10. The company has a market capitalization of $1.89 billion, a PE ratio of 8.23 and a beta of 1.06. 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 has a fifty-two week low of $19.33 and a fifty-two week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted 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. The business had revenue of $121.82 million during the quarter, compared to the consensus estimate 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 firm posted $0.58 earnings per share. Research analysts expect that Sixth Street Specialty Lending will post 2.31 earnings per share for the current year.

Insider Transactions at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin acquired 7,015 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $19.90 per share, with a total value of $139,598.50. Following the transaction, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several hedge funds have recently made changes to their positions in TSLX. Van ECK Associates Corp grew its holdings in shares of Sixth Street Specialty Lending by 18.6% during the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after purchasing an additional 336,596 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Sixth Street Specialty Lending by 482.6% during the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after purchasing an additional 237,995 shares during the last quarter. TrueMark Investments LLC purchased a new position in shares of Sixth Street Specialty Lending during the second quarter worth about $4,378,000. Baillie Gifford & Co. grew its holdings in shares of 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 purchasing an additional 184,634 shares during the last quarter. Finally, Significant Wealth Partners LLC grew its holdings in shares of Sixth Street Specialty Lending by 949.8% during the first quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock worth $4,348,000 after purchasing an additional 183,571 shares during the last quarter. Hedge funds and other institutional investors own 70.25% 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.