Envestnet Asset Management Inc. Acquires 50,567 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Envestnet Asset Management Inc. boosted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,967 shares of the financial services provider’s stock after purchasing an additional 50,567 shares during the period. Envestnet Asset Management Inc. owned about 0.62% of Sixth Street Specialty Lending worth $13,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLX. MTM Investment Management LLC acquired a new stake in shares of Sixth Street Specialty Lending in the second quarter valued at about $49,000. First Horizon Advisors Inc. raised its stake in shares of Sixth Street Specialty Lending by 74.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 1,753 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at approximately $98,000. MAI Capital Management boosted its holdings in shares of Sixth Street Specialty Lending by 83.5% in the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,940 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Sixth Street Specialty Lending by 604.6% in the third quarter. Farther Finance Advisors LLC now owns 4,700 shares of the financial services provider’s stock valued at $107,000 after buying an additional 4,033 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on TSLX shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, December 24th. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Royal Bank Of Canada cut their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of “Buy” and a consensus price target of $23.50.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $19.24 on Tuesday. 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 quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. The stock’s 50-day simple moving average is $21.57 and its 200 day simple moving average is $22.36. The firm has a market capitalization of $1.82 billion, a PE ratio of 10.63 and a beta of 0.70.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Thursday, February 12th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The firm had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 annualized dividend and a yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio is presently 101.66%.

About Sixth Street Specialty Lending

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.