Ocean Park Asset Management LLC Makes New Investment in Sixth Street Specialty Lending, Inc. $TSLX

Ocean Park Asset Management LLC bought a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,736 shares of the financial services provider’s stock, valued at approximately $601,000.

A number of other institutional investors have also recently modified their holdings of TSLX. Harbor Investment Advisory LLC increased its stake in shares of Sixth Street Specialty Lending by 673.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,732 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,508 shares in the last quarter. Advisory Services Network LLC acquired a new position in Sixth Street Specialty Lending in the 3rd quarter worth about $75,000. Redmont Wealth Advisors LLC boosted its position in Sixth Street Specialty Lending by 37.8% during the fourth quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,310 shares in the last quarter. SG Americas Securities LLC purchased a new position in Sixth Street Specialty Lending during the fourth quarter worth approximately $108,000. Finally, Arax Advisory Partners acquired a new stake in Sixth Street Specialty Lending in the fourth quarter valued at approximately $109,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Ross Anthony Bruck acquired 8,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $17.76 per share, with a total value of $142,080.00. Following the purchase, the vice president owned 18,250 shares in the company, valued at $324,120. This trade represents a 78.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLX. Royal Bank Of Canada reduced their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wall Street Zen cut shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wells Fargo & Company dropped their price target on shares of Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.83.

Sixth Street Specialty Lending Trading Down 0.1%

TSLX stock opened at $16.59 on Monday. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.37 and a 12-month high of $25.17. The business’s 50-day moving average is $17.86 and its 200 day moving average is $19.39. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 14.43 and a beta of 0.60.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. During the same period in the previous year, the company earned $0.58 EPS. On average, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, June 15th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 annualized dividend and a dividend yield of 10.1%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 146.09%.

About Sixth Street Specialty Lending

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.