Sixth Street Specialty Lending (NYSE:TSLX) Price Target Cut to $21.00 by Analysts at Wells Fargo & Company

by · The Markets Daily

Sixth Street Specialty Lending (NYSE:TSLX – Free Report) had its price target cut by Wells Fargo & Company from $22.00 to $21.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.42.

Check Out Our Latest Report on TSLX

Sixth Street Specialty Lending Trading Down 0.6 %

Sixth Street Specialty Lending stock opened at $20.27 on Tuesday. Sixth Street Specialty Lending has a 1 year low of $19.50 and a 1 year high of $22.35. The firm’s 50 day moving average price is $20.74 and its 200-day moving average price is $21.09. 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 cap of $1.89 billion, a P/E ratio of 8.59 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The company had revenue of $121.82 million for the quarter, compared to the consensus estimate of $120.33 million. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities analysts predict that Sixth Street Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Insider Transactions at Sixth Street Specialty Lending

In related 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 bought at an average price of $19.90 per share, for a total transaction of $139,598.50. Following the completion of the transaction, the director now owns 18,726 shares in the company, valued at approximately $372,647.40. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently modified their holdings of TSLX. Van ECK Associates Corp lifted its position in 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. Millennium Management LLC boosted its stake in shares of Sixth Street Specialty Lending by 482.6% during the 2nd quarter. Millennium Management LLC now owns 287,311 shares of the financial services provider’s stock worth $6,134,000 after purchasing an additional 237,995 shares during the period. TrueMark Investments LLC purchased a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth about $4,378,000. Baillie Gifford & Co. grew its holdings in Sixth Street Specialty Lending by 81.9% during the 2nd quarter. Baillie Gifford & Co. now owns 410,054 shares of the financial services provider’s stock valued at $8,755,000 after purchasing an additional 184,634 shares during the last quarter. Finally, Significant Wealth Partners LLC raised its position in Sixth Street Specialty Lending by 949.8% in the 1st quarter. Significant Wealth Partners LLC now owns 202,899 shares of the financial services provider’s stock worth $4,348,000 after purchasing an additional 183,571 shares during the period. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Company Profile

(Get Free Report)

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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