Envestnet Asset Management Inc. Sells 15,544 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Envestnet Asset Management Inc. cut its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 3.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 494,699 shares of the financial services provider’s stock after selling 15,544 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.53% of Sixth Street Specialty Lending worth $11,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at about $27,000. AdvisorNet Financial Inc acquired a new position in shares of Sixth Street Specialty Lending in the 1st quarter valued at $40,000. Rossby Financial LCC purchased a new position in Sixth Street Specialty Lending in the 1st quarter worth $62,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth about $97,000. Finally, Signaturefd LLC grew its stake in Sixth Street Specialty Lending by 13.3% during the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 550 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Trading Down 1.3%

Sixth Street Specialty Lending stock opened at $24.78 on Monday. The firm has a market cap of $2.33 billion, a PE ratio of 13.11 and a beta of 0.83. Sixth Street Specialty Lending, Inc. has a 12 month low of $18.58 and a 12 month high of $25.17. The stock’s 50 day simple moving average is $23.38 and its two-hundred day simple moving average is $22.29. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.15.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The firm had revenue of $113.92 billion during the quarter, compared to analysts’ expectations of $116.70 million. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. During the same period in the previous year, the business posted $0.52 EPS. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. This represents a dividend yield of 9.21%. The ex-dividend date was Friday, May 30th. Sixth Street Specialty Lending’s payout ratio is currently 97.35%.

Analyst Upgrades and Downgrades

TSLX has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Raymond James Financial reduced their price target on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, B. Riley assumed coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a “buy” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Buy” and an average price target of $22.81.

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.