1832 Asset Management L.P. Increases Stake in Sixth Street Specialty Lending, Inc. $TSLX

1832 Asset Management L.P. raised its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 13.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,347 shares of the financial services provider’s stock after buying an additional 45,347 shares during the quarter. 1832 Asset Management L.P. owned about 0.42% of Sixth Street Specialty Lending worth $9,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLX. Texas Yale Capital Corp. boosted its position in Sixth Street Specialty Lending by 1.4% during the second quarter. Texas Yale Capital Corp. now owns 35,500 shares of the financial services provider’s stock worth $845,000 after acquiring an additional 500 shares during the last quarter. Mirador Capital Partners LP lifted its stake in Sixth Street Specialty Lending by 4.4% in the 2nd quarter. Mirador Capital Partners LP now owns 21,920 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 919 shares in the last quarter. Union Bancaire Privee UBP SA boosted its holdings in shares of Sixth Street Specialty Lending by 5.1% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 19,319 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 935 shares during the last quarter. Barnett & Company Inc. grew its position in shares of Sixth Street Specialty Lending by 3.4% in the first quarter. Barnett & Company Inc. now owns 30,050 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. increased its holdings in shares of Sixth Street Specialty Lending by 4.5% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 24,084 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 1,038 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Sixth Street Specialty Lending news, CEO Robert J. Stanley acquired 10,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average price of $20.85 per share, with a total value of $208,500.00. Following the completion of the purchase, the chief executive officer owned 24,907 shares in the company, valued at $519,310.95. This trade represents a 67.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.22% of the company’s stock.

Analyst Upgrades and Downgrades

TSLX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their price objective on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Royal Bank Of Canada reduced their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $24.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company decreased their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Sixth Street Specialty Lending Stock Up 0.3%

Shares of NYSE TSLX opened at $22.28 on Friday. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $21.82 and its two-hundred day moving average is $23.11. Sixth Street Specialty Lending, Inc. has a 52-week low of $18.58 and a 52-week high of $25.17. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 10.92 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $108.35 million. Sixth Street Specialty Lending had a return on equity of 13.20% and a net margin of 41.24%.During the same period in the previous year, the firm posted $0.57 earnings per share. Research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.03 per share. The ex-dividend date is Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Sixth Street Specialty Lending’s dividend payout ratio is 90.20%.

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.