Sixth Street Specialty Lending (NYSE:TSLX) VP Alan Waxman Purchases 45,000 Shares

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Alan Waxman bought 45,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was purchased at an average cost of $18.47 per share, for a total transaction of $831,150.00. Following the acquisition, the vice president directly owned 545,000 shares of the company’s stock, valued at $10,066,150. The trade was a 9.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alan Waxman also recently made the following trade(s):

• On Monday, March 9th, Alan Waxman purchased 200,000 shares of Sixth Street Specialty Lending stock. The stock was purchased at an average price of $18.18 per share, with a total value of $3,636,000.00.
• On Friday, March 6th, Alan Waxman acquired 200,000 shares of Sixth Street Specialty Lending stock. The stock was acquired at an average price of $18.42 per share, for a total transaction of $3,684,000.00.
• On Thursday, March 5th, Alan Waxman acquired 100,000 shares of Sixth Street Specialty Lending stock. The stock was acquired at an average cost of $18.46 per share, for a total transaction of $1,846,000.00.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX traded down $0.01 during mid-day trading on Wednesday, hitting $18.42. 961,642 shares of the company’s stock traded hands, compared to its average volume of 1,028,604. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. The firm’s 50 day simple moving average is $20.42 and its 200 day simple moving average is $21.71. Sixth Street Specialty Lending, Inc. has a 1 year low of $16.99 and a 1 year high of $25.17. The company has a market cap of $1.74 billion, a PE ratio of 10.18 and a beta of 0.73.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.20). The business had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same period last year, the company earned $0.61 EPS. Sell-side analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Wall Street Analysts Forecast Growth

TSLX has been the subject of several recent research reports. Royal Bank Of Canada dropped their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Weiss Ratings downgraded Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Truist Financial decreased their price objective on 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. Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.25.

Institutional Investors Weigh In On Sixth Street Specialty Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC increased its stake in Sixth Street Specialty Lending by 673.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,508 shares during the last quarter. MTM Investment Management LLC acquired a new stake in Sixth Street Specialty Lending in the 2nd quarter worth about $49,000. Advisory Services Network LLC purchased a new stake in Sixth Street Specialty Lending in the 3rd quarter valued at about $75,000. Redmont Wealth Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending during the 3rd quarter valued at about $79,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Sixth Street Specialty Lending during the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors 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.