Jane Street Group LLC grew its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,373 shares of the financial services provider’s stock after buying an additional 11,117 shares during the quarter. Jane Street Group LLC’s holdings in Sixth Street Specialty Lending were worth $1,014,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of TSLX. IFG Advisory LLC increased its stake in shares of Sixth Street Specialty Lending by 6.3% in the 2nd quarter. IFG Advisory LLC now owns 17,512 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 1,039 shares in the last quarter. Barnett & Company Inc. increased its stake in shares of Sixth Street Specialty Lending by 4.7% in the 3rd 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. Bank of New York Mellon Corp increased its stake in shares of Sixth Street Specialty Lending by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,376 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 1,660 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Sixth Street Specialty Lending by 14.5% in the 2nd quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 1,898 shares in the last quarter. Finally, Grimes & Company Inc. increased its stake in shares of Sixth Street Specialty Lending by 16.4% in the 3rd quarter. Grimes & Company Inc. now owns 18,400 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 2,591 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.
Sixth Street Specialty Lending Stock Up 0.8 %
Sixth Street Specialty Lending stock opened at $21.30 on Tuesday. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.50 and a twelve month high of $22.35. The stock’s fifty day simple moving average is $20.81 and its 200-day simple moving average is $20.92. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $1.99 billion, a P/E ratio of 10.34 and a beta of 1.06.
Sixth Street Specialty Lending Cuts Dividend
The business also recently disclosed a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.05 per share. This represents a yield of 7.59%. The ex-dividend date of this dividend was Friday, November 29th. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on TSLX. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 6th. Wells Fargo & Company cut their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods cut their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and an average price target of $22.00.
Read Our Latest Analysis on TSLX
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.
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