Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 0.5% - Time to Buy?

Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report) were up 0.5% on Thursday . The company traded as high as $20.59 and last traded at $20.58. Approximately 28,844 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 347,747 shares. The stock had previously closed at $20.48.

Analyst Ratings Changes

A number of research analysts have weighed in on TSLX shares. Keefe, Bruyette & Woods decreased their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th. Finally, LADENBURG THALM/SH SH upgraded 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 note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.00.

Sixth Street Specialty Lending Stock Up 0.6 %

The firm has a 50 day moving average of $20.51 and a 200 day moving average of $21.00. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 10.00 and a beta of 1.06. 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 released 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 return on equity of 13.55% and a net margin of 39.05%. The business had revenue of $119.22 million during the quarter, compared to analysts' expectations of $119.85 million. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, sell-side 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 announced a -- dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a yield of 9.1%. Sixth Street Specialty Lending's dividend payout ratio is currently 89.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLX. Van ECK Associates Corp boosted its holdings in Sixth Street Specialty Lending by 18.6% in the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider's stock worth $45,859,000 after acquiring an additional 336,596 shares in the last quarter. Millennium Management LLC boosted its holdings in Sixth Street Specialty Lending by 482.6% in the second quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider's stock worth $6,134,000 after acquiring an additional 237,995 shares in the last quarter. Progeny 3 Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 10.6% in the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider's stock valued at $46,249,000 after purchasing an additional 215,996 shares in the last quarter. TrueMark Investments LLC bought a new position in shares of Sixth Street Specialty Lending in the second quarter valued at approximately $4,378,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of Sixth Street Specialty Lending by 81.9% in the second quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider's stock valued at $8,755,000 after purchasing an additional 184,634 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.