IFP Advisors Inc Acquires 71,693 Shares of Sixth Street Specialty Lending, Inc. $TSLX

IFP Advisors Inc grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 30.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 305,604 shares of the financial services provider’s stock after acquiring an additional 71,693 shares during the period. IFP Advisors Inc’s holdings in Sixth Street Specialty Lending were worth $5,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantum Portfolio Management LLC acquired a new stake in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $273,434,000. Strs Ohio lifted its stake in Sixth Street Specialty Lending by 101.8% during the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock worth $79,911,000 after purchasing an additional 2,193,551 shares during the period. Sound Income Strategies LLC lifted its stake in Sixth Street Specialty Lending by 2.4% during the first quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider’s stock worth $46,562,000 after purchasing an additional 59,937 shares during the period. Progeny 3 Inc. boosted its holdings 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 valued at $58,963,000 after purchasing an additional 23,451 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Sixth Street Specialty Lending by 28.1% during the second quarter. Van ECK Associates Corp now owns 2,366,266 shares of the financial services provider’s stock valued at $40,629,000 after purchasing an additional 519,456 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Stock Down 1.1%

Shares of NYSE TSLX opened at $17.85 on Thursday. The firm has a market capitalization of $1.70 billion, a PE ratio of 18.79 and a beta of 0.61. The company has a current ratio of 9.83, a quick ratio of 9.83 and a debt-to-equity ratio of 1.24. Sixth Street Specialty Lending, Inc. has a 1 year low of $16.04 and a 1 year high of $24.76. The firm’s 50-day moving average is $17.96 and its 200-day moving average is $17.88.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $97.84 million during the quarter, compared to analysts’ expectations of $95.28 million. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. During the same quarter in the previous year, the company earned $0.56 EPS. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Sixth Street Specialty Lending’s payout ratio is currently 176.84%.

Wall Street Analysts Forecast Growth

TSLX has been the topic of several analyst reports. Weiss Ratings upgraded Sixth Street Specialty Lending from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Keefe, Bruyette & Woods raised their target price on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen raised Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lowered their price target on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.83.

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.