Sixth Street Specialty Lending, Inc. $TSLX Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 13.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,012 shares of the financial services provider’s stock after selling 2,696 shares during the period. Parallel Advisors LLC’s holdings in Sixth Street Specialty Lending were worth $429,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TSLX. Janney Montgomery Scott LLC lifted its stake in Sixth Street Specialty Lending by 108.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider’s stock worth $6,196,000 after acquiring an additional 144,096 shares in the last quarter. Cetera Investment Advisers lifted its stake in Sixth Street Specialty Lending by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider’s stock worth $10,046,000 after acquiring an additional 33,818 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Sixth Street Specialty Lending by 15.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider’s stock worth $9,749,000 after purchasing an additional 57,962 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Sixth Street Specialty Lending in the 1st quarter worth about $201,000. Finally, Magnus Financial Group LLC acquired a new position in Sixth Street Specialty Lending in the 1st quarter worth about $322,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $23.59 on Friday. Sixth Street Specialty Lending, Inc. has a one year low of $18.58 and a one year high of $25.17. The company has a market cap of $2.22 billion, a PE ratio of 11.74 and a beta of 0.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The stock has a 50-day moving average of $24.20 and a 200-day moving average of $22.88.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share 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 for the quarter, compared to analysts’ expectations of $110.42 million. During the same quarter last year, the firm earned $0.58 EPS. On average, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

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