Sixth Street Specialty Lending (NYSE:TSLX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Sixth Street Specialty Lending (NYSE:TSLX) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other research analysts also recently commented on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $25.00 price target on shares of Sixth Street Specialty Lending in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods reduced their price objective 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. Truist Financial lowered their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Sixth Street Specialty Lending Stock Up 0.5%

TSLX stock opened at $18.42 on Friday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.17 and a beta of 0.73. The company has a 50-day moving average of $20.49 and a two-hundred day moving average of $21.75. Sixth Street Specialty Lending has a 52-week low of $16.99 and a 52-week high of $25.17. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities research analysts anticipate that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio is presently 101.66%.

Insider Activity

In other news, VP Alan Waxman bought 200,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $18.42 per share, for a total transaction of $3,684,000.00. Following the transaction, the vice president directly owned 300,000 shares of the company’s stock, valued at $5,526,000. This trade represents a 200.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.30% of the stock is owned by company insiders.

Institutional Trading of Sixth Street Specialty Lending

Large investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its holdings in shares of 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 buying an additional 1,508 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $49,000. Advisory Services Network LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $75,000. Redmont Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter worth approximately $79,000. Finally, First Horizon Advisors Inc. increased its holdings in Sixth Street Specialty Lending by 74.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,753 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

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.