Progeny 3 Inc. Raises Stock Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Progeny 3 Inc. raised its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,036,778 shares of the financial services provider’s stock after buying an additional 50,908 shares during the quarter. Sixth Street Specialty Lending comprises 4.2% of Progeny 3 Inc.’s portfolio, making the stock its 10th biggest position. Progeny 3 Inc. owned 2.20% of Sixth Street Specialty Lending worth $43,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. MGO One Seven LLC raised its stake in Sixth Street Specialty Lending by 3,380.9% during the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock worth $11,964,000 after buying an additional 537,964 shares during the period. Van ECK Associates Corp increased its holdings in shares of Sixth Street Specialty Lending by 18.6% in the second quarter. Van ECK Associates Corp now owns 2,147,972 shares of the financial services provider’s stock worth $45,859,000 after acquiring an additional 336,596 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Sixth Street Specialty Lending during the first quarter worth about $5,212,000. TrueMark Investments LLC bought a new position in shares of Sixth Street Specialty Lending during the 2nd quarter valued at about $4,378,000. Finally, 1832 Asset Management L.P. grew its position in shares of Sixth Street Specialty Lending by 20.0% in the 4th quarter. 1832 Asset Management L.P. now owns 1,200,000 shares of the financial services provider’s stock valued at $25,920,000 after purchasing an additional 200,000 shares during the period. 70.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Judy S. Slotkin acquired 7,015 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $19.90 per share, with a total value of $139,598.50. Following the acquisition, the director now owns 18,726 shares in the company, valued at approximately $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 Stock Up 0.5 %

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

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data 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. The company had revenue of $121.82 million during the quarter, compared to the consensus estimate of $120.33 million. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. During the same period in the prior year, the business posted $0.58 EPS. On average, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 8.93%. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, September 16th. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 74.19%.

Wall Street Analysts Forecast Growth

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

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.