Connor Clark & Lunn Investment Management Ltd. Has $1.05 Million Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 106.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,184 shares of the financial services provider’s stock after buying an additional 26,349 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Sixth Street Specialty Lending worth $1,051,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Muzinich & Co. Inc. boosted its stake in Sixth Street Specialty Lending by 12.4% in the third quarter. Muzinich & Co. Inc. now owns 366,410 shares of the financial services provider’s stock valued at $7,522,000 after buying an additional 40,330 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Sixth Street Specialty Lending during the third quarter valued at about $749,000. Barnett & Company Inc. boosted its stake in shares of Sixth Street Specialty Lending by 4.7% during the third quarter. Barnett & Company Inc. now owns 29,050 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 1,300 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Sixth Street Specialty Lending by 12.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 355,434 shares of the financial services provider’s stock valued at $7,297,000 after purchasing an additional 40,330 shares in the last quarter. Finally, First National Trust Co boosted its stake in shares of Sixth Street Specialty Lending by 145.8% during the third quarter. First National Trust Co now owns 116,922 shares of the financial services provider’s stock valued at $2,400,000 after purchasing an additional 69,348 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on TSLX shares. Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company cut their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $21.19 on Thursday. The stock’s 50 day moving average is $20.51 and its 200 day moving average is $20.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market cap of $1.98 billion, a P/E ratio of 10.29 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a one year low of $19.50 and a one year high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a yield of 7.69%. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

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.