JPMorgan Chase & Co. Buys 50,946 Shares of Sixth Street Specialty Lending, Inc. $TSLX

JPMorgan Chase & Co. lifted its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 993,735 shares of the financial services provider’s stock after acquiring an additional 50,946 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sixth Street Specialty Lending were worth $22,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MTM Investment Management LLC purchased a new position in Sixth Street Specialty Lending during the second quarter worth about $49,000. First Horizon Advisors Inc. lifted its position in shares of Sixth Street Specialty Lending by 74.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock worth $98,000 after buying an additional 1,753 shares in the last quarter. MAI Capital Management boosted its stake in shares of Sixth Street Specialty Lending by 83.5% in the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,940 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Sixth Street Specialty Lending during the third quarter valued at approximately $98,000. Finally, Farther Finance Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 604.6% during the third 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. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

TSLX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on 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. Wells Fargo & Company cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a 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. Keefe, Bruyette & Woods lowered their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada reduced 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 research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Sixth Street Specialty Lending Trading Down 4.8%

Shares of Sixth Street Specialty Lending stock opened at $17.34 on Monday. Sixth Street Specialty Lending, Inc. has a 52-week low of $17.28 and a 52-week high of $25.17. The stock’s 50-day simple moving average is $20.89 and its 200 day simple moving average is $22.00. The stock has a market capitalization of $1.64 billion, a P/E ratio of 9.58 and a beta of 0.73. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its 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 for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.61 EPS. As a group, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, March 16th. Sixth Street Specialty Lending’s payout ratio is currently 101.66%.

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.