Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 106.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,184 shares of the financial services provider's stock after acquiring an additional 26,349 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Sixth Street Specialty Lending worth $1,051,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp grew its stake in Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider's stock valued at $47,117,000 after acquiring an additional 141,463 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending by 2.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider's stock worth $44,818,000 after purchasing an additional 53,961 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in Sixth Street Specialty Lending by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider's stock valued at $44,960,000 after purchasing an additional 29,034 shares during the period. Progeny 3 Inc. increased its stake in Sixth Street Specialty Lending by 2.6% during the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider's stock valued at $43,485,000 after purchasing an additional 50,908 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Sixth Street Specialty Lending by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider's stock worth $27,307,000 after buying an additional 79,000 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSLX shares. Wells Fargo & Company reduced their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Keefe, Bruyette & Woods cut their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating on the stock in a report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a "neutral" rating to a "buy" rating and set a $21.00 target price for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $22.00.

Sixth Street Specialty Lending Price Performance

NYSE TSLX traded up $0.25 during trading hours on Thursday, hitting $21.19. The company had a trading volume of 263,393 shares, compared to its average volume of 347,850. The firm has a 50 day simple moving average of $20.51 and a 200 day simple moving average of $20.99. Sixth Street Specialty Lending, Inc. has a 52 week low of $19.50 and a 52 week high of $22.35. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.29 and a beta of 1.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts' consensus estimates of $0.57. The business had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, December 16th. Sixth Street Specialty Lending's payout ratio is 89.32%.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc NYSE: TSLX is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.