Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 0.4% - Here's What Happened

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) traded down 0.4% on Monday . The company traded as low as $21.49 and last traded at $21.51. 119,911 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 346,459 shares. The stock had previously closed at $21.60.

Analyst Upgrades and Downgrades

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

Sixth Street Specialty Lending Stock Down 0.7 %

The firm has a market cap of $2.00 billion, a PE ratio of 10.44 and a beta of 1.06. The company has a 50-day simple moving average of $20.64 and a 200-day simple moving average of $20.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50.

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 EPS for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the prior year, the company posted $0.60 EPS. Analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be paid a $0.05 dividend. This represents a yield of 7.59%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending's dividend payout ratio is presently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Large investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new position in Sixth Street Specialty Lending during the 2nd quarter valued at about $70,000. Ridgewood Investments LLC bought a new position in Sixth Street Specialty Lending in the second quarter worth approximately $77,000. Quarry LP lifted its holdings in Sixth Street Specialty Lending by 378.3% during the third quarter. Quarry LP now owns 4,094 shares of the financial services provider's stock worth $84,000 after buying an additional 3,238 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Sixth Street Specialty Lending during the 3rd quarter valued at $86,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending in the 2nd quarter valued at $109,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

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.

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