Sixth Street Specialty Lending (NYSE:TSLX) Price Target Lowered to $20.00 at Truist Financial

Sixth Street Specialty Lending (NYSE:TSLX) had its price objective decreased by equities research analysts at Truist Financial from $22.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 12.42% from the stock’s current price.

Several other research firms also recently commented on TSLX. Wells Fargo & Company cut their price objective on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Royal Bank Of Canada reduced their price target on Sixth Street Specialty Lending from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Weiss Ratings lowered Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Finally, Wall Street Zen upgraded Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.21.

Sixth Street Specialty Lending Stock Down 0.7%

Sixth Street Specialty Lending stock traded down $0.12 during mid-day trading on Thursday, reaching $17.79. The company’s stock had a trading volume of 394,000 shares, compared to its average volume of 924,853. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.83 and a current ratio of 2.83. Sixth Street Specialty Lending has a 12 month low of $16.99 and a 12 month high of $25.17. The business’s 50 day simple moving average is $18.35 and its 200 day simple moving average is $20.39. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 15.49 and a beta of 0.65.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.79%. The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $103.14 million. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, research analysts anticipate that Sixth Street Specialty Lending will post 1.97 earnings per share for the current year.

Insider Transactions at Sixth Street Specialty Lending

In other news, VP Alan Waxman acquired 45,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $18.47 per share, with a total value of $831,150.00. Following the acquisition, the vice president directly owned 545,000 shares in the company, valued at $10,066,150. This represents a 9.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 545,000 shares of company stock valued at $9,997,150. Insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Institutional investors and hedge funds have recently modified their holdings of the business. Caprock Group LLC bought a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter worth approximately $1,478,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Sixth Street Specialty Lending by 25.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock worth $15,154,000 after purchasing an additional 135,789 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Sixth Street Specialty Lending by 4.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,511,115 shares of the financial services provider’s stock worth $55,998,000 after purchasing an additional 108,708 shares during the last quarter. Tred Avon Family Wealth LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 3rd quarter valued at $1,028,000. Finally, Van ECK Associates Corp increased its stake in shares of Sixth Street Specialty Lending by 18.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after purchasing an additional 385,398 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.