Sixth Street Specialty Lending (NYSE:TSLX) Trading Up 0.8% - Here's Why

Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Get Free Report)'s stock price traded up 0.8% on Friday . The stock traded as high as $20.82 and last traded at $20.72. 91,340 shares were traded during trading, a decline of 74% from the average session volume of 347,557 shares. The stock had previously closed at $20.56.

Analyst Ratings Changes

TSLX has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut 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. 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 objective for the company in a research note on Wednesday, November 6th. 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 on the stock in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sixth Street Specialty Lending presently has a consensus rating of "Buy" and an average price target of $22.00.

Sixth Street Specialty Lending Trading Up 1.4 %

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 firm has a market cap of $1.95 billion, a P/E ratio of 10.11 and a beta of 1.06. The company's fifty day moving average price is $20.50 and its two-hundred day moving average price is $21.00.

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 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 company had revenue of $119.22 million during the quarter, compared to analysts' expectations of $119.85 million. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a $0.05 dividend. This represents a dividend yield of 9.1%. The ex-dividend date of this dividend is Friday, November 29th. Sixth Street Specialty Lending's dividend payout ratio is currently 89.32%.

Institutional Trading of Sixth Street Specialty Lending

A number of institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in Sixth Street Specialty Lending during the 1st quarter worth about $35,000. nVerses Capital LLC bought a new stake in Sixth Street Specialty Lending during the second quarter worth about $70,000. Ridgewood Investments LLC acquired a new position in Sixth Street Specialty Lending during the second quarter valued at approximately $77,000. Quarry LP grew 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 valued at $84,000 after purchasing an additional 3,238 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth approximately $86,000. 70.25% of the stock is currently owned by 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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