Millennium Management LLC raised its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) by 482.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,311 shares of the financial services provider’s stock after purchasing an additional 237,995 shares during the quarter. Millennium Management LLC owned 0.31% of Sixth Street Specialty Lending worth $6,134,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Progeny 3 Inc. lifted its holdings in Sixth Street Specialty Lending by 2.6% during the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock worth $43,485,000 after buying an additional 50,908 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Sixth Street Specialty Lending by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after buying an additional 79,000 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Sixth Street Specialty Lending by 14.5% during the 2nd quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock worth $320,000 after buying an additional 1,898 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Sixth Street Specialty Lending by 1.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 309,853 shares of the financial services provider’s stock worth $6,616,000 after buying an additional 5,024 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after buying an additional 29,034 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.
Sixth Street Specialty Lending Trading Up 0.5 %
Shares of NYSE TSLX opened at $20.41 on Friday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 8.23 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.02 and a 12-month high of $22.35. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $20.74 and its 200 day simple moving average is $21.13.
Sixth Street Specialty Lending Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.46 dividend. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 9.02%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.67.
Read Our Latest Stock Analysis on TSLX
Insider Buying and Selling at Sixth Street Specialty Lending
In other Sixth Street Specialty Lending news, Director Judy S. Slotkin bought 7,015 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $19.90 per share, with a total value of $139,598.50. Following the purchase, the director now directly owns 18,726 shares of the company’s stock, valued at approximately $372,647.40. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.30% of the stock is owned by company insiders.
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.
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