JPMorgan Chase & Co. Cuts Sixth Street Specialty Lending (NYSE:TSLX) Price Target to $18.50

Sixth Street Specialty Lending (NYSE:TSLX) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $21.00 to $18.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.69% from the stock’s previous close.

TSLX has been the topic of a number of other research reports. 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 note on Tuesday, February 17th. Weiss Ratings cut Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Citizens Jmp reissued a “market outperform” rating and issued a $25.00 price objective on shares of Sixth Street Specialty Lending in a research note on Wednesday, February 18th. Truist Financial cut their price objective on Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Wall Street Zen cut Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and an average target price of $21.94.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE:TSLX traded down $0.20 on Friday, hitting $17.84. The company’s stock had a trading volume of 546,761 shares, compared to its average volume of 1,032,646. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 9.85 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 has a 12 month low of $16.99 and a 12 month high of $25.17. The stock’s 50-day moving average is $20.28 and its two-hundred day moving average is $21.66.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Thursday, February 12th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.20). Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. The company had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. During the same quarter in the prior year, the company earned $0.61 EPS. On average, equities research analysts forecast that Sixth Street Specialty Lending will post 2.19 EPS for the current year.

Insiders Place Their Bets

In other Sixth Street Specialty Lending news, VP Alan Waxman acquired 200,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average cost of $18.18 per share, with a total value of $3,636,000.00. Following the purchase, the vice president owned 500,000 shares in the company, valued at approximately $9,090,000. The trade was a 66.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 545,000 shares of company stock worth $9,997,150 over the last quarter. 3.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can lifted its position in shares of Sixth Street Specialty Lending by 419.5% in the fourth quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider’s stock worth $49,628,000 after purchasing an additional 1,845,088 shares in the last quarter. Tectonic Advisors LLC acquired a new position in Sixth Street Specialty Lending in the 3rd quarter valued at approximately $12,777,000. Van ECK Associates Corp boosted its stake in shares of Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after buying an additional 385,398 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Sixth Street Specialty Lending by 105.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 624,196 shares of the financial services provider’s stock valued at $13,558,000 after buying an additional 319,665 shares during the period. Finally, Altshuler Shaham Ltd purchased a new position in shares of Sixth Street Specialty Lending during the 4th quarter valued at $6,548,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.