Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Sees Significant Growth in Short Interest

Sixth Street Specialty Lending, Inc. (NYSE:TSLXGet Rating) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,380,000 shares, a growth of 118.4% from the May 31st total of 632,000 shares. Based on an average daily volume of 341,100 shares, the days-to-cover ratio is presently 4.0 days.

NYSE:TSLX opened at $18.99 on Friday. The stock’s fifty day moving average is $20.40 and its 200 day moving average is $22.33. Sixth Street Specialty Lending has a fifty-two week low of $18.02 and a fifty-two week high of $24.74. The firm has a market capitalization of $1.45 billion, a PE ratio of 7.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 0.58.

Sixth Street Specialty Lending (NYSE:TSLXGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Sixth Street Specialty Lending had a net margin of 70.06% and a return on equity of 12.41%. The company had revenue of $67.43 million for the quarter, compared to analysts’ expectations of $71.21 million. Equities analysts forecast that Sixth Street Specialty Lending will post 1.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, June 14th. This represents a $1.64 annualized dividend and a yield of 8.64%. Sixth Street Specialty Lending’s payout ratio is presently 65.08%.

TSLX has been the topic of several recent research reports. Hovde Group decreased their price objective on Sixth Street Specialty Lending to $21.00 in a report on Friday, May 20th. StockNews.com initiated coverage on Sixth Street Specialty Lending in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In other Sixth Street Specialty Lending news, VP Jennifer Gordon purchased 2,500 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was acquired at an average cost of $19.91 per share, for a total transaction of $49,775.00. Following the purchase, the vice president now directly owns 2,500 shares of the company’s stock, valued at approximately $49,775. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TSLX. BlackRock Inc. raised its holdings in Sixth Street Specialty Lending by 10.5% during the 3rd quarter. BlackRock Inc. now owns 31,807 shares of the financial services provider’s stock valued at $706,000 after buying an additional 3,035 shares during the period. Royal Bank of Canada increased its stake in Sixth Street Specialty Lending by 15.4% in the third quarter. Royal Bank of Canada now owns 107,626 shares of the financial services provider’s stock worth $2,390,000 after purchasing an additional 14,325 shares during the period. LPL Financial LLC increased its stake in Sixth Street Specialty Lending by 21.2% in the third quarter. LPL Financial LLC now owns 166,956 shares of the financial services provider’s stock worth $3,708,000 after purchasing an additional 29,214 shares during the period. Thrivent Financial for Lutherans increased its stake in Sixth Street Specialty Lending by 2.6% in the third quarter. Thrivent Financial for Lutherans now owns 25,627 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 656 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Sixth Street Specialty Lending in the third quarter worth $442,000. Institutional investors own 47.04% of the company’s stock.

About Sixth Street Specialty Lending (Get Rating)

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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