Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Down 0.3% - Here's What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares fell 0.3% during trading on Tuesday . The company traded as low as $21.34 and last traded at $21.40. 57,114 shares were traded during trading, a decline of 84% from the average session volume of 346,235 shares. The stock had previously closed at $21.47.

Wall Street Analysts Forecast Growth

TSLX has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating on the stock 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 price target on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed 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. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of "Buy" and an average price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.0 %

The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The stock's fifty day moving average price is $20.66 and its 200 day moving average price is $20.99. The stock has a market cap of $2.00 billion, a P/E ratio of 10.39 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts' consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million for the quarter, compared to analysts' expectations of $119.85 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. 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 business also recently disclosed a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.05 per share. This represents a yield of 7.59%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending's payout ratio is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Several institutional investors have recently bought and sold shares of TSLX. Franklin Resources Inc. lifted its position in Sixth Street Specialty Lending by 28.3% in the 3rd quarter. Franklin Resources Inc. now owns 327,083 shares of the financial services provider's stock valued at $6,751,000 after acquiring an additional 72,133 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Sixth Street Specialty Lending by 7.4% in the third quarter. Tidal Investments LLC now owns 50,883 shares of the financial services provider's stock worth $1,045,000 after purchasing an additional 3,504 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Sixth Street Specialty Lending by 6.3% during the third quarter. Sanctuary Advisors LLC now owns 24,168 shares of the financial services provider's stock valued at $502,000 after purchasing an additional 1,441 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Sixth Street Specialty Lending during the third quarter valued at $708,000. Finally, Jane Street Group LLC increased its holdings in Sixth Street Specialty Lending by 29.1% in the 3rd quarter. Jane Street Group LLC now owns 49,373 shares of the financial services provider's stock worth $1,014,000 after buying an additional 11,117 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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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