Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Up 0% - Here's What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) shares shot up 0% during mid-day trading on Thursday . The stock traded as high as $21.50 and last traded at $21.41. 60,272 shares changed hands during trading, a decline of 83% from the average session volume of 344,965 shares. The stock had previously closed at $21.40.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLX shares. Keefe, Bruyette & Woods lowered their price objective on 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. 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 for the company in a report on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price objective on shares of 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of "Buy" and a consensus price target of $22.00.

Sixth Street Specialty Lending Trading Down 0.2 %

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The firm's fifty day moving average is $20.72 and its two-hundred day moving average is $20.99. The firm has a market cap of $1.99 billion, a P/E ratio of 10.37 and a beta of 1.06.

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

Hedge Funds Weigh In On Sixth Street Specialty Lending

A number of institutional investors have recently added to or reduced their stakes in TSLX. nVerses Capital LLC bought a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $70,000. Ridgewood Investments LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter worth $77,000. Quarry LP increased its holdings in Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider's stock worth $84,000 after acquiring an additional 3,238 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Sixth Street Specialty Lending during the third quarter valued at about $86,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Sixth Street Specialty Lending during the second quarter valued at approximately $109,000. 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.