Savvy Advisors Inc. Makes New Investment in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Savvy Advisors Inc. purchased a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,812 shares of the financial services provider's stock, valued at approximately $486,000.

Several other hedge funds have also recently modified their holdings of TSLX. Van ECK Associates Corp raised its stake in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider's stock worth $50,972,000 after buying an additional 103,634 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Sixth Street Specialty Lending by 5.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider's stock valued at $49,104,000 after acquiring an additional 122,312 shares during the period. Wells Fargo & Company MN boosted its position in shares of Sixth Street Specialty Lending by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider's stock worth $25,201,000 after purchasing an additional 33,026 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sixth Street Specialty Lending by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider's stock valued at $24,131,000 after purchasing an additional 162,810 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at about $17,488,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TSLX shares. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. Wells Fargo & Company lifted their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Truist Financial increased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $23.17.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded up $0.31 during midday trading on Friday, reaching $20.43. 566,526 shares of the company were exchanged, compared to its average volume of 360,716. The firm's 50-day simple moving average is $21.93 and its 200-day simple moving average is $21.38. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $23.67. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.07 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to the consensus estimate of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. On average, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.07 per share. This represents a dividend yield of 6.99%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Sixth Street Specialty Lending's previous dividend of $0.05. Sixth Street Specialty Lending's dividend payout ratio is currently 90.64%.

About Sixth Street Specialty Lending

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.