Sixth Street Specialty Lending (NYSE:TSLX) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.06 and traded as low as $17.40. Sixth Street Specialty Lending shares last traded at $17.4660, with a volume of 654,975 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their price target on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Keefe, Bruyette & Woods lowered their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Zacks Research lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Truist Financial lowered their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Citizens Jmp lowered their price target on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Price Performance

The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.19 and a beta of 0.65. The stock has a 50-day moving average price of $18.27 and a 200 day moving average price of $20.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $103.14 million. During the same quarter last year, the business earned $0.58 earnings per share. As a group, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 1.76 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.42 per share. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. The ex-dividend date is Monday, June 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.6%. Sixth Street Specialty Lending’s payout ratio is 160.00%.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the transaction, the vice president directly owned 18,250 shares of the company’s stock, valued at approximately $324,120. The trade was a 78.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alan Waxman bought 45,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $18.47 per share, for a total transaction of $831,150.00. Following the completion of the transaction, the vice president directly owned 545,000 shares in the company, valued at approximately $10,066,150. This trade represents a 9.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 553,000 shares of company stock worth $10,139,230 over the last 90 days. Insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently modified their holdings of TSLX. Harbor Investment Advisory LLC grew its position in shares of Sixth Street Specialty Lending by 673.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,508 shares during the period. Fifth Third Bancorp purchased a new position in Sixth Street Specialty Lending in the 1st quarter valued at about $63,000. Advisory Services Network LLC purchased a new position in Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Redmont Wealth Advisors LLC purchased a new position in Sixth Street Specialty Lending in the 3rd quarter valued at about $79,000. Finally, State of Alaska Department of Revenue purchased a new position in Sixth Street Specialty Lending in the 3rd quarter valued at about $98,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.