Sixth Street Specialty Lending (NYSE:TSLX) VP Alan Waxman Purchases 200,000 Shares of Stock

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) VP Alan Waxman bought 200,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $18.18 per share, for a total transaction of $3,636,000.00. Following the acquisition, the vice president owned 500,000 shares of the company’s stock, valued at $9,090,000. This represents a 66.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Alan Waxman also recently made the following trade(s):

• On Tuesday, March 10th, Alan Waxman purchased 45,000 shares of Sixth Street Specialty Lending stock. The shares were purchased at an average price of $18.47 per share, for a total transaction of $831,150.00.
• On Friday, March 6th, Alan Waxman acquired 200,000 shares of Sixth Street Specialty Lending stock. The stock was purchased at an average cost of $18.42 per share, for a total transaction of $3,684,000.00.
• On Thursday, March 5th, Alan Waxman bought 100,000 shares of Sixth Street Specialty Lending stock. The shares were purchased at an average cost of $18.46 per share, with a total value of $1,846,000.00.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX opened at $18.42 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. The business’s 50-day moving average price is $20.36 and its 200 day moving average price is $21.69. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.99 and a 52-week high of $25.17. The firm has a market cap of $1.74 billion, a P/E ratio of 10.18 and a beta of 0.73.

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

Sixth Street Specialty Lending Cuts Dividend

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

Wall Street Analyst Weigh In

TSLX has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Royal Bank Of Canada decreased their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. cut their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC increased its stake in shares of Sixth Street Specialty Lending by 673.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,508 shares during the last quarter. MTM Investment Management LLC acquired a new stake in Sixth Street Specialty Lending during the second quarter valued at $49,000. Advisory Services Network LLC purchased a new position in Sixth Street Specialty Lending in the third quarter valued at about $75,000. Redmont Wealth Advisors LLC acquired a new position in Sixth Street Specialty Lending in the 3rd quarter worth about $79,000. Finally, MAI Capital Management raised 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 purchasing an additional 1,940 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Company 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.