37,474 Shares in Sixth Street Specialty Lending, Inc. $TSLX Purchased by Ehrenkranz Partners L.P.

Ehrenkranz Partners L.P. acquired a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 37,474 shares of the financial services provider’s stock, valued at approximately $857,000. Sixth Street Specialty Lending accounts for 0.8% of Ehrenkranz Partners L.P.’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in shares of Sixth Street Specialty Lending during the third quarter valued at approximately $1,478,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Sixth Street Specialty Lending by 25.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock worth $15,154,000 after buying an additional 135,789 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Sixth Street Specialty Lending by 13.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 395,347 shares of the financial services provider’s stock worth $9,413,000 after acquiring an additional 45,347 shares during the last quarter. Tred Avon Family Wealth LLC bought a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter worth approximately $1,028,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in Sixth Street Specialty Lending by 7.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 207,112 shares of the financial services provider’s stock valued at $4,931,000 after acquiring an additional 14,104 shares during the period. Institutional investors own 70.25% of the company’s stock.

Insider Buying and Selling

In other news, VP Alan Waxman purchased 200,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average cost of $18.18 per share, with a total value of $3,636,000.00. Following the completion of the transaction, the vice president owned 500,000 shares in the company, valued at $9,090,000. This represents a 66.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 545,000 shares of company stock valued at $9,997,150 in the last ninety days. Insiders own 3.22% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

TSLX stock opened at $17.81 on Friday. The business has a 50-day moving average price of $20.21 and a 200 day moving average price of $21.60. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.99 and a 1-year high of $25.17. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.84 and a beta of 0.73. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.20). The company had revenue of $108.25 million during 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 period in the previous year, the firm posted $0.61 earnings per share. As a group, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.01 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Sixth Street Specialty Lending’s payout ratio is currently 101.66%.

Wall Street Analysts Forecast Growth

TSLX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Sixth Street Specialty Lending from $21.00 to $18.50 and set a “neutral” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods decreased their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Truist Financial lowered their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada cut their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Finally, Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.94.

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.