Union Bancaire Privee UBP SA Purchases Shares of 18,384 Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Union Bancaire Privee UBP SA purchased a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 18,384 shares of the financial services provider’s stock, valued at approximately $392,000.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock valued at $50,972,000 after acquiring an additional 103,634 shares in the last quarter. Sound Income Strategies LLC increased its stake in Sixth Street Specialty Lending by 5.6% during the 4th quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after buying an additional 122,312 shares during the period. Progeny 3 Inc. increased its stake in Sixth Street Specialty Lending by 10.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after buying an additional 215,996 shares during the period. JPMorgan Chase & Co. increased its stake in Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after buying an additional 162,810 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Sixth Street Specialty Lending by 1.1% during the 3rd quarter. Two Sigma Advisers LP now owns 867,286 shares of the financial services provider’s stock worth $17,805,000 after buying an additional 9,700 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

TSLX opened at $23.47 on Tuesday. The company has a 50-day moving average of $21.80 and a 200-day moving average of $21.14. The company has a market capitalization of $2.20 billion, a P/E ratio of 11.56 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a 1-year low of $19.50 and a 1-year high of $23.66. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. The business had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. This represents a dividend yield of 7.06%. Sixth Street Specialty Lending’s payout ratio is 90.64%.

Analysts Set New Price Targets

Several research firms recently issued reports on TSLX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Wells Fargo & Company lifted their price target on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial lifted their price target on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lifted their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.79.

About Sixth Street Specialty Lending

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 and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.