Canton Hathaway LLC Reduces Stock Position in Sixth Street Specialty Lending, Inc. $TSLX

Canton Hathaway LLC reduced its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,430 shares of the financial services provider’s stock after selling 800 shares during the period. Canton Hathaway LLC owned 0.05% of Sixth Street Specialty Lending worth $1,129,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC lifted its holdings in Sixth Street Specialty Lending by 1.9% in the second quarter. Sound Income Strategies LLC now owns 2,406,296 shares of the financial services provider’s stock worth $57,294,000 after buying an additional 45,157 shares during the period. Cetera Investment Advisers lifted its holdings in Sixth Street Specialty Lending by 8.1% in the first quarter. Cetera Investment Advisers now owns 448,898 shares of the financial services provider’s stock worth $10,046,000 after buying an additional 33,818 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Sixth Street Specialty Lending by 15.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider’s stock worth $9,749,000 after buying an additional 57,962 shares during the period. MGO One Seven LLC lifted its holdings in Sixth Street Specialty Lending by 3.0% in the second quarter. MGO One Seven LLC now owns 427,840 shares of the financial services provider’s stock worth $10,187,000 after buying an additional 12,650 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sixth Street Specialty Lending in the first quarter worth about $201,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on TSLX shares. Weiss Ratings restated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a report on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $24.00 price objective on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. JMP Securities raised their target price on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company raised their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus price target of $23.56.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $22.55 on Friday. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $25.17. The company has a 50 day simple moving average of $23.05 and a two-hundred day simple moving average of $23.01. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.22 and a beta of 0.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.79 and a current ratio of 3.79.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $115.00 million during the quarter, compared to the consensus estimate of $110.42 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same quarter last year, the firm earned $0.58 earnings per share. Analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

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.