JPMorgan Chase & Co. Has Lowered Expectations for Sixth Street Specialty Lending (NYSE:TSLX) Stock Price

Sixth Street Specialty Lending (NYSE:TSLX) had its target price lowered by analysts at JPMorgan Chase & Co. from $21.00 to $18.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 3.90% from the company’s current price.

A number of other analysts have also commented on TSLX. Truist Financial cut their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Keefe, Bruyette & Woods reduced their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Royal Bank Of Canada decreased their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Wells Fargo & Company lowered their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $25.00 price objective on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and an average price target of $21.94.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $17.81 on Friday. The firm has a market cap of $1.69 billion, a P/E ratio of 9.84 and a beta of 0.73. Sixth Street Specialty Lending has a twelve month low of $16.99 and a twelve month high of $25.17. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $21.60.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.20). Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.The company had revenue of $108.25 million for the quarter, compared to the consensus estimate of $107.11 million. During the same period in the prior year, the company earned $0.61 EPS. On average, analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Alan Waxman purchased 200,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $18.18 per share, for a total transaction of $3,636,000.00. Following the completion of the purchase, the vice president directly owned 500,000 shares in the company, valued at $9,090,000. This trade represents a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 545,000 shares of company stock worth $9,997,150 over the last ninety days. Corporate insiders own 3.22% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several large investors have recently made changes to their positions in the stock. Harbor Investment Advisory LLC raised its position in Sixth Street Specialty Lending by 673.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,508 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth about $49,000. Advisory Services Network LLC bought a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Redmont Wealth Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at about $79,000. Finally, MAI Capital Management lifted its stake in 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 purchasing an additional 1,940 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.