HB Wealth Management LLC Trims Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

HB Wealth Management LLC cut its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 29.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,872 shares of the financial services provider’s stock after selling 36,141 shares during the period. HB Wealth Management LLC owned approximately 0.09% of Sixth Street Specialty Lending worth $1,876,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TSLX. International Assets Investment Management LLC raised its stake in shares of Sixth Street Specialty Lending by 3,860.0% during the fourth quarter. International Assets Investment Management LLC now owns 23,760 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 23,160 shares in the last quarter. Signaturefd LLC raised its position in Sixth Street Specialty Lending by 25.6% during the 4th quarter. Signaturefd LLC now owns 5,486 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,119 shares in the last quarter. Precision Wealth Strategies LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 4th quarter worth $205,000. Van ECK Associates Corp lifted its stake in Sixth Street Specialty Lending by 11.0% in the fourth quarter. Van ECK Associates Corp now owns 1,604,944 shares of the financial services provider’s stock worth $34,667,000 after acquiring an additional 158,746 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Sixth Street Specialty Lending by 103,655.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 294,666 shares of the financial services provider’s stock worth $6,365,000 after acquiring an additional 294,382 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Activity

In related news, Director Judy S. Slotkin bought 7,015 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the purchase, the director now directly owns 18,726 shares of the company’s stock, valued at $372,647.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Sixth Street Specialty Lending Trading Up 0.7 %

NYSE:TSLX opened at $21.18 on Friday. The firm has a 50 day moving average of $21.12 and a 200 day moving average of $21.25. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending, Inc. has a 52 week low of $19.02 and a 52 week high of $22.35. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 8.54 and a beta of 1.05.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The firm had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. During the same quarter last year, the firm earned $0.58 EPS. As a group, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.46 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 8.69%. Sixth Street Specialty Lending’s payout ratio is presently 74.19%.

Analyst Ratings Changes

Several research firms have recently commented on TSLX. Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report 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, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and an average target price of $22.67.

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.