Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Stock Position Boosted by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,305,372 shares of the financial services provider's stock after purchasing an additional 122,312 shares during the quarter. Sixth Street Specialty Lending comprises approximately 3.0% of Sound Income Strategies LLC's investment portfolio, making the stock its 3rd biggest position. Sound Income Strategies LLC owned 2.47% of Sixth Street Specialty Lending worth $49,104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Millennium Management LLC grew its stake in shares of 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 valued at $6,134,000 after buying an additional 237,995 shares in the last quarter. Progeny 3 Inc. boosted its holdings in Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider's stock valued at $46,249,000 after acquiring an additional 215,996 shares during the period. JPMorgan Chase & Co. grew its position in Sixth Street Specialty Lending by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider's stock valued at $24,131,000 after acquiring an additional 162,810 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Sixth Street Specialty Lending by 498.1% during the third quarter. Benjamin Edwards Inc. now owns 193,677 shares of the financial services provider's stock worth $3,976,000 after purchasing an additional 161,295 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider's stock worth $47,117,000 after purchasing an additional 141,463 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Stock Up 0.1 %

Shares of Sixth Street Specialty Lending stock traded up $0.03 during trading on Friday, hitting $22.05. 194,372 shares of the stock were exchanged, compared to its average volume of 282,877. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The firm's 50-day moving average price is $21.14 and its 200 day moving average price is $20.92. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 10.70 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.50 and a 12-month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $119.85 million. During the same period in the previous year, the business earned $0.60 EPS. As a group, analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLX shares. 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 report on Wednesday, November 6th. 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 price objective 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. Finally, Keefe, Bruyette & Woods lowered their target price 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $22.00.

Sixth Street Specialty Lending 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.