Sixth Street Specialty Lending, Inc. $TSLX Stock Bought by Riverbridge Partners LLC

Riverbridge Partners LLC grew its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 25.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 179,892 shares of the financial services provider’s stock after buying an additional 36,305 shares during the quarter. Riverbridge Partners LLC’s holdings in Sixth Street Specialty Lending were worth $3,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Sixth Street Specialty Lending by 30.6% in the second quarter. IFP Advisors Inc now owns 305,604 shares of the financial services provider’s stock valued at $5,247,000 after acquiring an additional 71,693 shares during the last quarter. BlackRock Inc. purchased a new stake in Sixth Street Specialty Lending during the second quarter valued at about $7,484,000. Bank of America Corp DE purchased a new stake in Sixth Street Specialty Lending during the second quarter valued at about $13,126,000. Melia Wealth LLC acquired a new stake in Sixth Street Specialty Lending during the second quarter worth about $8,350,000. Finally, Lazard Asset Management LLC acquired a new stake in Sixth Street Specialty Lending during the first quarter worth about $2,809,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on TSLX. Keefe, Bruyette & Woods raised their price objective on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an “outperform” rating in a report on Monday, August 10th. Wall Street Zen raised Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. B. Riley Financial reiterated a “buy” rating and set a $19.00 target price (down from $20.00) on shares of Sixth Street Specialty Lending in a report on Friday, November 6th. Finally, Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.71.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $17.75 on Wednesday. The firm has a fifty day moving average of $17.73 and a 200-day moving average of $18.11. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.04 and a 52-week high of $22.84. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $1.70 billion, a P/E ratio of 21.13 and a beta of 0.61.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The business had revenue of $98.96 million for the quarter, compared to analyst estimates of $97.59 million. Sixth Street Specialty Lending had a net margin of 19.81% and a return on equity of 10.94%. As a group, analysts predict that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 9.5%. The ex-dividend date is Tuesday, December 15th. Sixth Street Specialty Lending’s dividend payout ratio is currently 200.00%.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc. is a business development company that provides customized financing to middle-market companies. Its investment strategy focuses on privately negotiated loans and other investments in businesses across a range of industries. The company’s investments include senior secured first-lien loans, unitranche and second-lien loans, and, in some cases, mezzanine debt and equity. It primarily serves companies in the United States, including both sponsor-backed and non-sponsor-backed businesses.