Legacy Capital Wealth Partners LLC Purchases 71,849 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Legacy Capital Wealth Partners LLC increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 98.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,698 shares of the financial services provider's stock after buying an additional 71,849 shares during the period. Legacy Capital Wealth Partners LLC owned about 0.16% of Sixth Street Specialty Lending worth $2,971,000 as of its most recent SEC filing.

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

Sixth Street Specialty Lending Price Performance

Shares of TSLX traded up $0.53 during midday trading on Friday, reaching $20.32. The stock had a trading volume of 609,399 shares, compared to its average volume of 339,042. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 9.86 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 1.90 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.50 and a 12-month high of $22.35. The company's 50-day moving average is $20.64 and its 200 day moving average is $21.06.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting analysts' consensus estimates of $0.57. The business had revenue of $119.22 million for the quarter, compared to analysts' expectations 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 period last year, the business earned $0.60 earnings per share. On average, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a $0.05 dividend. This represents a yield of 9.1%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending's payout ratio is presently 89.32%.

Wall Street Analyst Weigh In

TSLX has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a report on Thursday. Wells Fargo & Company decreased their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Finally, LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a "neutral" rating to a "buy" rating and set a $21.00 price objective on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $22.00.

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.