Van ECK Associates Corp Has $57.82 Million Stock Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Van ECK Associates Corp boosted its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 18.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,529,187 shares of the financial services provider’s stock after purchasing an additional 385,398 shares during the period. Van ECK Associates Corp’s holdings in Sixth Street Specialty Lending were worth $57,817,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLX. MTM Investment Management LLC acquired a new position in Sixth Street Specialty Lending during the second quarter worth approximately $49,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending in the third quarter valued at approximately $79,000. State of Alaska Department of Revenue acquired a new stake in shares of Sixth Street Specialty Lending in the third quarter valued at approximately $98,000. MAI Capital Management boosted its stake in shares of Sixth Street Specialty Lending by 83.5% during the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,940 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Sixth Street Specialty Lending by 604.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,700 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 4,033 shares during the period. Institutional investors own 70.25% of the company’s stock.

Insider Activity at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Alan Waxman purchased 200,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $18.42 per share, with a total value of $3,684,000.00. Following the completion of the transaction, the vice president owned 300,000 shares in the company, valued at $5,526,000. The trade was a 200.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Truist Financial reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company cut their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $18.44 on Wednesday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 10.19 and a beta of 0.73. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 1.08. Sixth Street Specialty Lending, Inc. has a 12 month low of $16.99 and a 12 month high of $25.17. The stock’s 50 day moving average is $20.42 and its 200-day moving average is $21.71.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.20). The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $107.11 million. Sixth Street Specialty Lending had a return on equity of 12.71% and a net margin of 37.99%.During the same period in the previous year, the business posted $0.61 earnings per share. Equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, March 16th. Sixth Street Specialty Lending’s payout ratio is presently 101.66%.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.