Sixth Street Specialty Lending (NYSE:TSLX) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Sixth Street Specialty Lending (NYSE:TSLX) released its quarterly earnings results on Thursday. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.21), FiscalAI reports. 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 net margin of 41.24% and a return on equity of 13.20%.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded up $0.02 on Thursday, reaching $20.13. The company had a trading volume of 716,668 shares, compared to its average volume of 559,733. The stock has a market capitalization of $1.90 billion, a PE ratio of 9.87 and a beta of 0.70. 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 $21.74 and its 200 day moving average is $22.46. Sixth Street Specialty Lending has a one year low of $18.58 and a one year high of $25.17.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Robert J. Stanley bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were purchased 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 represents a 67.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.22% of the stock is currently owned by insiders.

Institutional Trading of Sixth Street Specialty Lending

A number of hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Sixth Street Specialty Lending in the third quarter valued at approximately $75,000. Northwestern Mutual Wealth Management Co. acquired a new position in Sixth Street Specialty Lending in the 4th quarter valued at approximately $118,000. Maia Wealth LLC bought a new position in shares of Sixth Street Specialty Lending during the third quarter valued at $210,000. Glenview Trust co acquired a new position in shares of Sixth Street Specialty Lending during the second quarter worth $231,000. Finally, Virtu Financial LLC bought a new stake in shares of Sixth Street Specialty Lending in the third quarter worth $235,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.