Sixth Street Specialty Lending (NYSE:TSLX – Get Note)‘s stock had its “hold” rating reissued by investment analysts Raymond James in a research note released Thursday, Benzinga reports.
Separately, Hovde Group lowered its price target on shares of Sixth Street Specialty Lending to $21.00 in a Friday, May 20 research note.
Sixth Street specialty loans trade up 0.3%
NYSE:TSLX shares opened at $19.06 on Thursday. The company has a 50-day moving average of $19.21 and a 200-day moving average of $21.62. The company has a market capitalization of $1.45 billion, a P/E ratio of 11.69 and a beta of 1.05. Sixth Street Specialty Lending has a 12-month low of $18.02 and a 12-month high of $24.74. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt ratio of 0.87.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last reported quarterly results on Tuesday, May 3. The financial services provider reported earnings per share of $0.46 for the quarter, missing analyst consensus estimates of $0.50 per ($0.04). The company posted revenue of $67.43 million in the quarter, compared to analyst estimates of $71.21 million. Sixth Street Specialty Lending had a return on equity of 12.91% and a net margin of 44.20%. As a group, analysts expect Sixth Street Specialty Lending to post 1.98 earnings per share for the current fiscal year.
Insider buying and selling
In other Sixth Street Specialty Lending news, Vice President Jennifer Gordon purchased 2,500 shares of the company in a transaction that took place on Tuesday, May 24. The shares were acquired at an average cost of $19.91 per share, for a total transaction of $49,775.00. Following the acquisition, the vice president now directly owns 2,500 shares of the company, valued at $49,775. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website. Insiders hold 3.90% of the shares of the company.
Institutional investors weigh in on Sixth Street Specialty Lending
A number of large investors have recently changed their positions in TSLX. Greenwich Investment Management Inc. acquired a new equity stake in Sixth Street Specialty Lending during the fourth quarter valued at approximately $12,192,000. Progeny 3 Inc. increased its holdings of Sixth Street Specialty Lending stock by 30.2% in the first quarter. Progeny 3 Inc. now owns 1,106,395 shares of the financial services provider valued at $25,768,000 after acquiring an additional 256,418 shares during the period. Belpointe Asset Management LLC increased its holdings of Sixth Street Specialty Lending shares by 165.9% during the first quarter. Belpointe Asset Management LLC now owns 353,216 shares of the financial services provider valued at $8,227,000 after acquiring an additional 220,391 shares during the period. Van ECK Associates Corp increased its holdings of Sixth Street Specialty Lending shares 20.8% in the first quarter. Van ECK Associates Corp now owns 1,234,247 shares of the financial services provider valued at $28,746,000 after acquiring an additional 212,401 shares during the period. Finally, Kingfisher Capital LLC increased its equity stake in Sixth Street Specialty Lending by 55.3% during the second quarter. Kingfisher Capital LLC now owns 291,134 shares of the financial services provider valued at $5,386,000 after acquiring an additional 103,673 shares during the period. Institutional investors and hedge funds own 47.04% of the company’s shares.
Sixth Street Specialty Loan Company Profile
(Get a rating)
Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first lien, second lien and unitranche), unsecured loans, mezzanine debt and investments in corporate bonds, equity and structured products, structured equity non-controlling interests and common stock with an emphasis on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations and refinancing.
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