Sixth Street Specialty Lending (NYSE:TSLX) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) released its earnings results on Tuesday. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01, Zacks reports. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same period in the previous year, the firm posted $0.57 earnings per share.

Sixth Street Specialty Lending Price Performance

Shares of Sixth Street Specialty Lending stock traded down $0.29 on Tuesday, reaching $22.35. The company’s stock had a trading volume of 327,246 shares, compared to its average volume of 476,586. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $2.11 billion, a P/E ratio of 11.12 and a beta of 0.85. The stock has a 50-day moving average price of $22.96 and a 200-day moving average price of $23.10. Sixth Street Specialty Lending has a 52-week low of $18.58 and a 52-week high of $25.17.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its position in shares of Sixth Street Specialty Lending by 2.2% during the 2nd quarter. Tidal Investments LLC now owns 53,219 shares of the financial services provider’s stock worth $1,267,000 after purchasing an additional 1,168 shares during the last quarter. Invesco Ltd. boosted its holdings in Sixth Street Specialty Lending by 8.0% in the 2nd quarter. Invesco Ltd. now owns 30,628 shares of the financial services provider’s stock worth $729,000 after buying an additional 2,263 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Sixth Street Specialty Lending by 2.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 136,054 shares of the financial services provider’s stock worth $3,245,000 after buying an additional 3,440 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Sixth Street Specialty Lending by 38.5% during the first quarter. Integrated Wealth Concepts LLC now owns 16,539 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 4,597 shares during the last quarter. Finally, IHT Wealth Management LLC raised its holdings in shares of Sixth Street Specialty Lending by 6.6% during the second quarter. IHT Wealth Management LLC now owns 105,149 shares of the financial services provider’s stock valued at $2,504,000 after acquiring an additional 6,549 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 8th. JMP Securities lifted their price objective 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. Wells Fargo & Company upped their price objective on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $24.00 target price on shares of Sixth Street Specialty Lending in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.56.

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.