Comerica Bank Cuts Position in Sixth Street Specialty Lending, Inc. $TSLX

Comerica Bank lessened its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 27.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,255 shares of the financial services provider’s stock after selling 3,196 shares during the period. Comerica Bank’s holdings in Sixth Street Specialty Lending were worth $185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLX. Ameriflex Group Inc. bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter worth $40,000. Rossby Financial LCC purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter worth $62,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter worth $97,000. Finally, SVB Wealth LLC purchased a new stake in shares of Sixth Street Specialty Lending in the first quarter worth $107,000. Institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TSLX. JMP Securities raised their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their price target on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of “Buy” and a consensus target price of $23.28.

Sixth Street Specialty Lending Stock Down 0.3%

NYSE:TSLX opened at $24.41 on Thursday. The company has a market cap of $2.30 billion, a PE ratio of 12.14 and a beta of 0.85. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $24.27 and its two-hundred day moving average is $22.86.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. The business had revenue of $115.00 million during the quarter, compared to analysts’ expectations of $110.42 million. During the same period in the previous year, the business posted $0.58 EPS. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, September 15th. Sixth Street Specialty Lending’s payout ratio is presently 91.54%.

About Sixth Street Specialty Lending

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.