Sixth Street Specialty Lending (NYSE:TSLX) Shares Gap Down to $21.40

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) gapped down before the market opened on Monday . The stock had previously closed at $21.40, but opened at $20.92. Sixth Street Specialty Lending shares last traded at $20.90, with a volume of 94,228 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.67.

Sixth Street Specialty Lending Stock Performance

The stock’s 50-day moving average price is $21.01 and its 200 day moving average price is $21.19. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $1.90 billion, a P/E ratio of 8.24 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $121.82 million for the quarter, compared to analyst estimates 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. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.46 per share. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 annualized dividend and a yield of 9.01%. Sixth Street Specialty Lending’s dividend payout ratio is currently 74.19%.

Insider Transactions at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin acquired 7,015 shares of the stock in a transaction dated Monday, August 5th. The stock was bought 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 directly owns 18,726 shares of the company’s stock, valued at approximately $372,647.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds have recently made changes to their positions in TSLX. EntryPoint Capital LLC purchased a new position in Sixth Street Specialty Lending during the 1st quarter valued at about $35,000. Cape Investment Advisory Inc. purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $65,000. Security National Bank purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at approximately $68,000. nVerses Capital LLC purchased a new stake in shares of Sixth Street Specialty Lending during the second quarter valued at approximately $70,000. Finally, Ridgewood Investments LLC bought a new position in shares of Sixth Street Specialty Lending during the second quarter valued at approximately $77,000. 70.25% of the stock is currently owned by institutional investors.

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.