Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.2% - Time to Sell?

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) fell 0.2% during mid-day trading on Tuesday . The company traded as low as $20.82 and last traded at $20.89. 25,753 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 347,519 shares. The stock had previously closed at $20.94.

Analyst Ratings Changes

A number of research firms have issued reports on TSLX. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. 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 research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a research report on Thursday, November 7th. 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 Stock Up 0.4 %

The firm has a market cap of $1.96 billion, a P/E ratio of 10.14 and a beta of 1.06. The business's fifty day moving average price is $20.49 and its two-hundred day moving average price is $20.99. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts' consensus estimates of $0.57. The business had revenue of $119.22 million for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.60 EPS. As a group, equities research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a yield of 7.78%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 89.32%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider's stock worth $47,117,000 after acquiring an additional 141,463 shares during the period. Progeny 3 Inc. grew its position in Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider's stock worth $46,249,000 after purchasing an additional 215,996 shares during the last quarter. Sound Income Strategies LLC grew its position in 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 during 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 worth $44,960,000 after purchasing an additional 29,034 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in Sixth Street Specialty Lending by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider's stock worth $27,307,000 after purchasing an additional 79,000 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

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.

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