Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Position Lifted by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,719,739 shares of the financial services provider’s stock after purchasing an additional 208,707 shares during the quarter. Sixth Street Specialty Lending accounts for 3.9% of Sound Income Strategies LLC’s investment portfolio, making the stock its 7th biggest holding. Sound Income Strategies LLC owned about 2.12% of Sixth Street Specialty Lending worth $30,611,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new position in shares of Sixth Street Specialty Lending in the 3rd quarter valued at approximately $25,000. Private Trust Co. NA purchased a new stake in shares of Sixth Street Specialty Lending in the second quarter valued at approximately $35,000. Credit Suisse AG purchased a new stake in shares of Sixth Street Specialty Lending in the second quarter valued at approximately $85,000. EMC Capital Management boosted its stake in shares of Sixth Street Specialty Lending by 50.8% in the second quarter. EMC Capital Management now owns 4,734 shares of the financial services provider’s stock valued at $88,000 after buying an additional 1,595 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Sixth Street Specialty Lending by 11.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 9,842 shares of the financial services provider’s stock valued at $229,000 after buying an additional 1,046 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Sixth Street Specialty Lending news, insider Michael Graf acquired 2,000 shares of the stock in a transaction dated Thursday, March 9th. The stock was acquired at an average price of $18.55 per share, with a total value of $37,100.00. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $37,100. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sixth Street Specialty Lending news, insider Michael Graf acquired 2,000 shares of the stock in a transaction dated Thursday, March 9th. The stock was acquired at an average price of $18.55 per share, with a total value of $37,100.00. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $37,100. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hurley Doddy acquired 2,900 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $17.51 per share, with a total value of $50,779.00. Following the transaction, the director now owns 15,241 shares of the company’s stock, valued at $266,869.91. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX traded down $0.20 during trading on Friday, reaching $17.10. The company had a trading volume of 605,002 shares, compared to its average volume of 491,575. Sixth Street Specialty Lending, Inc. has a twelve month low of $16.02 and a twelve month high of $23.68. The stock has a market capitalization of $1.39 billion, a PE ratio of 12.57 and a beta of 1.07. The stock has a 50-day moving average price of $18.77 and a two-hundred day moving average price of $18.23. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last released its quarterly earnings results on Friday, February 17th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Sixth Street Specialty Lending had a return on equity of 12.91% and a net margin of 34.95%. The company had revenue of $309.31 million during the quarter, compared to analysts’ expectations of $94.08 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.22 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 14th. This represents a dividend yield of 9.4%. This is an increase from Sixth Street Specialty Lending’s previous Variable dividend of $0.04. Sixth Street Specialty Lending’s payout ratio is currently 135.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLX shares. StockNews.com started coverage on Sixth Street Specialty Lending in a research note on Thursday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price target on Sixth Street Specialty Lending from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 price target on shares of Sixth Street Specialty Lending in a research note on Monday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Sixth Street Specialty Lending Profile

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Sixth Street Specialty Lending, Inc engages in the provision of financing solutions. It invests in first-lien debt, second-lien debt, mezzanine and unsecured debt or equity or other securities issued by middle-market companies. The company is founded in 2010 and is headquartered in New York, NY.