Callodine Capital Management LP Sells 193,391 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Callodine Capital Management LP decreased its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 871,433 shares of the financial services provider’s stock after selling 193,391 shares during the period. Sixth Street Specialty Lending accounts for about 1.7% of Callodine Capital Management LP’s holdings, making the stock its 22nd biggest position. Callodine Capital Management LP owned 0.92% of Sixth Street Specialty Lending worth $19,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLX. MTM Investment Management LLC bought a new position in Sixth Street Specialty Lending in the 2nd quarter worth approximately $49,000. Redmont Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $79,000. State of Alaska Department of Revenue bought a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $98,000. MAI Capital Management lifted its position in shares of Sixth Street Specialty Lending by 83.5% during the second quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,940 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Sixth Street Specialty Lending by 604.6% during the third quarter. Farther Finance Advisors LLC now owns 4,700 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 4,033 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Insider Buying and Selling at Sixth Street Specialty Lending

In other news, VP Alan Waxman acquired 200,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average cost of $18.18 per share, with a total value of $3,636,000.00. Following the acquisition, the vice president owned 500,000 shares in the company, valued at approximately $9,090,000. This represents a 66.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 545,000 shares of company stock worth $9,997,150. Company insiders own 3.22% of the company’s stock.

Sixth Street Specialty Lending Stock Down 1.3%

Shares of NYSE:TSLX opened at $17.81 on Friday. The firm has a market capitalization of $1.69 billion, a PE ratio of 9.84 and a beta of 0.73. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.99 and a 52-week high of $25.17. The firm has a fifty day moving average of $20.21 and a 200 day moving average of $21.62.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.20). Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The firm had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, March 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio is 101.66%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TSLX shares. Wall Street Zen cut Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings cut Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Keefe, Bruyette & Woods cut their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada reduced their target price on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $25.00 price target on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.94.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.