Sixth Street Specialty Lending (NYSE:TSLX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Sixth Street Specialty Lending (NYSE:TSLX) announced its quarterly earnings data on Thursday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02, Zacks reports. Sixth Street Specialty Lending had a net margin of 41.24% and a return on equity of 13.20%. The business had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same period last year, the firm posted $0.61 earnings per share.

Sixth Street Specialty Lending Trading Up 0.1%

Shares of Sixth Street Specialty Lending stock traded up $0.02 during trading hours on Thursday, hitting $20.13. The company’s stock had a trading volume of 717,670 shares, compared to its average volume of 559,737. Sixth Street Specialty Lending has a twelve month low of $18.58 and a twelve month high of $25.17. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 9.87 and a beta of 0.70. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.73 and a current ratio of 4.73. The firm has a fifty day moving average of $21.70 and a 200-day moving average of $22.45.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Sixth Street Specialty Lending news, CEO Robert J. Stanley bought 10,000 shares of Sixth Street Specialty Lending stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average cost of $20.85 per share, with a total value of $208,500.00. Following the completion of the acquisition, the chief executive officer owned 24,907 shares of the company’s stock, valued at approximately $519,310.95. This represents a 67.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several large investors have recently made changes to their positions in TSLX. Advisory Services Network LLC purchased a new stake in shares of Sixth Street Specialty Lending in the third quarter valued at $75,000. Northwestern Mutual Wealth Management Co. bought a new position in Sixth Street Specialty Lending during the 4th quarter worth about $118,000. Maia Wealth LLC acquired a new stake in Sixth Street Specialty Lending in the 3rd quarter valued at approximately $210,000. Glenview Trust co acquired a new position in Sixth Street Specialty Lending during the second quarter worth approximately $231,000. Finally, Virtu Financial LLC bought a new stake in Sixth Street Specialty Lending during the third quarter worth about $235,000. 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.