Closed End Fund Advisors Inc. Acquires New Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Closed End Fund Advisors Inc. acquired a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 34,249 shares of the financial services provider’s stock, valued at approximately $744,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLX. Caprock Group LLC bought a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter worth about $1,478,000. Sound Income Strategies LLC boosted its holdings in Sixth Street Specialty Lending by 4.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock valued at $55,998,000 after purchasing an additional 108,708 shares during the period. Legal & General Group Plc boosted its holdings in Sixth Street Specialty Lending by 16.0% in the 4th quarter. Legal & General Group Plc now owns 665,352 shares of the financial services provider’s stock valued at $14,455,000 after purchasing an additional 91,578 shares during the period. Van ECK Associates Corp boosted its holdings in Sixth Street Specialty Lending by 18.0% in 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 purchasing an additional 385,398 shares during the period. Finally, Stratos Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending in the 4th quarter valued at about $4,129,000. Institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

TSLX has been the subject of a number of recent research reports. Citizens Jmp cut their price objective on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods cut 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 report on Thursday, May 7th. Wall Street Zen downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research downgraded shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada cut their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.83.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $17.41 on Friday. The firm has a 50-day moving average price of $18.11 and a two-hundred day moving average price of $19.72. The company has a market capitalization of $1.65 billion, a P/E ratio of 15.13 and a beta of 0.60. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.96 and a 12-month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). The firm had revenue of $93.40 million during 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 quarter in the previous year, the firm posted $0.58 earnings per share. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Monday, June 15th. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio is presently 160.00%.

Insider Activity at Sixth Street Specialty Lending

In other news, VP Alan Waxman bought 200,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $18.18 per share, for a total transaction of $3,636,000.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ross Anthony Bruck bought 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the transaction, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. This represents a 78.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 253,000 shares of company stock valued at $4,609,230 over the last 90 days. Corporate insiders own 3.83% 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.