Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 1.1% - Here's What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares traded down 1.1% during mid-day trading on Thursday . The stock traded as low as $21.27 and last traded at $21.29. 90,681 shares were traded during trading, a decline of 74% from the average session volume of 346,775 shares. The stock had previously closed at $21.52.

Analysts Set New Price Targets

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

Sixth Street Specialty Lending Price Performance

The company has a market capitalization of $2.00 billion, a P/E ratio of 10.34 and a beta of 1.06. The business's 50-day moving average is $20.60 and its two-hundred day moving average is $20.99. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

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 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 company had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. During the same period in the previous year, the firm earned $0.60 EPS. As a group, analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

Hedge Funds Weigh In On Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Sixth Street Specialty Lending during the 2nd quarter valued at $70,000. Ridgewood Investments LLC purchased a new position in shares of Sixth Street Specialty Lending during the second quarter valued at about $77,000. Quarry LP raised its stake in Sixth Street Specialty Lending by 378.3% in 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth approximately $86,000. Finally, Atlas Capital Advisors LLC bought a new position in Sixth Street Specialty Lending in the second quarter worth $109,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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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