Sixth Street Specialty Lending (NYSE:TSLX) VP Alan Waxman Acquires 200,000 Shares of Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Alan Waxman acquired 200,000 shares of the stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $18.42 per share, with a total value of $3,684,000.00. Following the purchase, the vice president owned 300,000 shares of the company’s stock, valued at approximately $5,526,000. This trade represents a 200.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alan Waxman also recently made the following trade(s):

• On Thursday, March 5th, Alan Waxman bought 100,000 shares of Sixth Street Specialty Lending stock. The shares were acquired at an average cost of $18.46 per share, for a total transaction of $1,846,000.00.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $18.42 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. 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 market cap of $1.74 billion, a PE ratio of 10.17 and a beta of 0.73. The company’s 50 day moving average is $20.49 and its two-hundred day moving average is $21.75.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.20). The business had revenue of $108.25 million during the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same quarter last year, the firm earned $0.61 EPS. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.01 per share. The ex-dividend date 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 101.66%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial lowered their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, February 18th. Keefe, Bruyette & Woods lowered their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Institutional Trading of Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Sixth Street Specialty Lending by 18.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after purchasing an additional 385,398 shares during the period. Sound Income Strategies LLC increased its position in Sixth Street Specialty Lending by 4.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after buying an additional 108,708 shares during the period. Progeny 3 Inc. increased its position in Sixth Street Specialty Lending by 1.0% during the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider’s stock worth $58,963,000 after buying an additional 23,451 shares during the period. Burgundy Asset Management Ltd. lifted its stake in Sixth Street Specialty Lending by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,378,968 shares of the financial services provider’s stock valued at $56,643,000 after buying an additional 31,922 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock valued at $49,628,000 after acquiring an additional 1,845,088 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Company 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.