Sixth Street Specialty Lending (NYSE:TSLX) Rating Increased to Hold at Zacks Research

Sixth Street Specialty Lending (NYSE:TSLX) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Citizens Jmp cut their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Royal Bank Of Canada dropped their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Truist Financial cut their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. reduced their price target on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Finally, Weiss Ratings cut shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $16.90 on Tuesday. Sixth Street Specialty Lending has a twelve month low of $16.04 and a twelve month high of $25.17. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.39 and a current ratio of 3.39. The firm’s 50 day moving average price is $17.38 and its two-hundred day moving average price is $18.91. The firm has a market cap of $1.61 billion, a P/E ratio of 14.69 and a beta of 0.59.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same period in the previous year, the company posted $0.58 earnings per share. On average, analysts forecast that Sixth Street Specialty Lending will post 1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Ross Anthony Bruck bought 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.76 per share, with a total value of $142,080.00. Following the completion of the acquisition, the vice president owned 18,250 shares of the company’s stock, valued at $324,120. This represents a 78.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quantum Portfolio Management LLC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth approximately $273,434,000. Strs Ohio boosted its stake in shares of Sixth Street Specialty Lending by 101.8% in the 1st quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider’s stock valued at $79,911,000 after purchasing an additional 2,193,551 shares during the last quarter. Bank of Montreal Can increased its position in shares of Sixth Street Specialty Lending by 419.5% during 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 buying an additional 1,845,088 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of Sixth Street Specialty Lending by 318.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 1,961,813 shares of the financial services provider’s stock worth $36,058,000 after buying an additional 1,492,704 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Sixth Street Specialty Lending by 105.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 624,196 shares of the financial services provider’s stock worth $13,558,000 after buying an additional 319,665 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

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.