Parallel Advisors LLC Has $457,000 Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Parallel Advisors LLC decreased its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,428 shares of the financial services provider’s stock after selling 660 shares during the period. Parallel Advisors LLC’s holdings in Sixth Street Specialty Lending were worth $457,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its position 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 buying an additional 336,596 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Sixth Street Specialty Lending by 2.8% in the second quarter. Sound Income Strategies LLC now owns 2,129,099 shares of the financial services provider’s stock worth $45,456,000 after buying an additional 58,840 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Sixth Street Specialty Lending by 0.9% in the first quarter. Burgundy Asset Management Ltd. now owns 2,076,819 shares of the financial services provider’s stock worth $44,506,000 after buying an additional 18,859 shares during the last quarter. LSV Asset Management lifted its position in shares of Sixth Street Specialty Lending by 7.3% in the first quarter. LSV Asset Management now owns 1,215,312 shares of the financial services provider’s stock worth $26,044,000 after buying an additional 82,398 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Sixth Street Specialty Lending by 20.0% in the fourth quarter. 1832 Asset Management L.P. now owns 1,200,000 shares of the financial services provider’s stock worth $25,920,000 after buying an additional 200,000 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $20.70 on Wednesday. The business has a 50 day moving average price of $21.04 and a 200 day moving average price of $21.19. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.02 and a twelve month high of $22.35. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 8.35 and a beta of 1.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $120.33 million. During the same quarter in the prior year, the company earned $0.58 EPS. Research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.46 dividend. 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 annualized dividend and a yield of 8.89%. Sixth Street Specialty Lending’s dividend payout ratio is 74.19%.

Analyst Ratings Changes

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

Insider Buying and Selling at Sixth Street Specialty Lending

In other news, Director Judy S. Slotkin purchased 7,015 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $19.90 per share, with a total value of $139,598.50. Following the acquisition, the director now directly owns 18,726 shares in the company, valued at approximately $372,647.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 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.