Envestnet Asset Management Inc. Acquires 37,796 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Envestnet Asset Management Inc. increased its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 19.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,382 shares of the financial services provider’s stock after purchasing an additional 37,796 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of Sixth Street Specialty Lending worth $4,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLX. JPMorgan Chase & Co. boosted its position in Sixth Street Specialty Lending by 6.0% during the 1st quarter. JPMorgan Chase & Co. now owns 157,382 shares of the financial services provider’s stock valued at $3,666,000 after acquiring an additional 8,969 shares in the last quarter. Raymond James & Associates boosted its position in Sixth Street Specialty Lending by 5.8% during the 1st quarter. Raymond James & Associates now owns 148,013 shares of the financial services provider’s stock valued at $3,447,000 after acquiring an additional 8,170 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Sixth Street Specialty Lending by 15.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 17,805 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 2,373 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Sixth Street Specialty Lending by 35.8% during the 1st quarter. Bank of New York Mellon Corp now owns 177,235 shares of the financial services provider’s stock valued at $4,128,000 after acquiring an additional 46,680 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Sixth Street Specialty Lending by 2.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,957 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 802 shares in the last quarter. Institutional investors own 48.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on TSLX shares. StockNews.com started coverage on Sixth Street Specialty Lending in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada raised their price objective on Sixth Street Specialty Lending from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Sixth Street Specialty Lending in a research report on Friday, August 18th. Truist Financial lifted their price target on Sixth Street Specialty Lending from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, TheStreet raised Sixth Street Specialty Lending from a “c+” rating to a “b” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.80.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $21.00 on Tuesday. The stock has a market cap of $1.84 billion, a PE ratio of 8.11 and a beta of 1.06. The business has a 50-day simple moving average of $20.15 and a 200-day simple moving average of $19.52. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.09. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.86 and a 52-week high of $21.21.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a dividend yield of 8.9%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 71.04%.

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.