1832 Asset Management L.P. Grows Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

1832 Asset Management L.P. boosted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,279,000 shares of the financial services provider’s stock after purchasing an additional 79,000 shares during the quarter. 1832 Asset Management L.P. owned about 1.37% of Sixth Street Specialty Lending worth $27,307,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TSLX. ProShare Advisors LLC increased its holdings in Sixth Street Specialty Lending by 14.5% in the 2nd quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 1,898 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Sixth Street Specialty Lending by 1.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 309,853 shares of the financial services provider’s stock worth $6,616,000 after purchasing an additional 5,024 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Sixth Street Specialty Lending by 1.4% in the second 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 in the last quarter. Waterloo Capital L.P. boosted its stake in Sixth Street Specialty Lending by 9.9% during the second quarter. Waterloo Capital L.P. now owns 105,760 shares of the financial services provider’s stock valued at $2,258,000 after buying an additional 9,492 shares during the last quarter. Finally, Argent Trust Co grew its holdings in Sixth Street Specialty Lending by 8.9% during the 2nd quarter. Argent Trust Co now owns 105,292 shares of the financial services provider’s stock valued at $2,248,000 after buying an additional 8,591 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Trading Up 0.5 %

TSLX opened at $20.62 on Tuesday. The stock has a 50-day moving average of $20.93 and a 200 day moving average of $21.18. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending, Inc. has a 12 month low of $19.02 and a 12 month high of $22.35. The firm has a market cap of $1.91 billion, a P/E ratio of 8.31 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The firm had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.46 per share. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.84 dividend on an annualized basis and a yield of 8.93%. Sixth Street Specialty Lending’s payout ratio is 74.19%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Insider Activity

In other news, Director Judy S. Slotkin purchased 7,015 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $19.90 per share, with a total value of $139,598.50. Following the purchase, the director now owns 18,726 shares in the company, valued at $372,647.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.30% of the company’s stock.

Sixth Street Specialty Lending Company Profile

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.