Progeny 3 Inc. Has $43.49 Million Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Progeny 3 Inc. raised its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 2.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,036,778 shares of the financial services provider’s stock after buying an additional 50,908 shares during the quarter. Sixth Street Specialty Lending comprises about 4.2% of Progeny 3 Inc.’s portfolio, making the stock its 10th largest holding. Progeny 3 Inc.’s holdings in Sixth Street Specialty Lending were worth $43,485,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSLX. MGO One Seven LLC boosted its stake in shares of Sixth Street Specialty Lending by 3,380.9% in the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock valued at $11,964,000 after purchasing an additional 537,964 shares in the last quarter. Van ECK Associates Corp raised its position 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 acquiring an additional 336,596 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of Sixth Street Specialty Lending in the 1st quarter valued at $5,212,000. TrueMark Investments LLC bought a new stake in Sixth Street Specialty Lending during the second quarter valued at $4,378,000. Finally, 1832 Asset Management L.P. boosted its position in shares of Sixth Street Specialty Lending by 20.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,200,000 shares of the financial services provider’s stock valued at $25,920,000 after purchasing an additional 200,000 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $20.62 on Tuesday. The business’s 50-day moving average price is $20.93 and its two-hundred day moving average price is $21.18. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.91 billion, a P/E ratio of 8.31 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.02 and a twelve month 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.76% and a net margin of 44.55%. During the same period last year, the company earned $0.58 EPS. As a group, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.46 per share. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. This represents a $1.84 dividend on an annualized basis and a yield of 8.93%. The ex-dividend date is Monday, September 16th. Sixth Street Specialty Lending’s payout ratio is presently 74.19%.

Insiders Place Their Bets

In related news, Director Judy S. Slotkin bought 7,015 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $19.90 per share, with a total value of $139,598.50. Following the purchase, the director now owns 18,726 shares of the company’s stock, valued at approximately $372,647.40. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.