Tectonic Advisors LLC Takes Position in Sixth Street Specialty Lending, Inc. $TSLX

by · The Cerbat Gem

Tectonic Advisors LLC purchased a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 558,938 shares of the financial services provider’s stock, valued at approximately $12,777,000. Tectonic Advisors LLC owned about 0.59% of Sixth Street Specialty Lending at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MTM Investment Management LLC bought a new position in Sixth Street Specialty Lending in the second quarter valued at about $49,000. First Horizon Advisors Inc. grew its stake in shares of Sixth Street Specialty Lending by 74.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,123 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,753 shares during the period. MAI Capital Management increased its position in shares of Sixth Street Specialty Lending by 83.5% during the 2nd quarter. MAI Capital Management now owns 4,264 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,940 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 604.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,700 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 4,033 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $157,000. Institutional investors own 70.25% of the company’s stock.

Insider Activity at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, CEO Robert J. Stanley acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $20.85 per share, with a total value of $208,500.00. Following the completion of the purchase, the chief executive officer directly owned 24,907 shares in the company, valued at approximately $519,310.95. The trade was a 67.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.22% of the stock is owned by insiders.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $21.77 on Friday. The company has a 50 day simple moving average of $21.80 and a two-hundred day simple moving average of $22.94. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.73 and a quick ratio of 4.73. The firm has a market cap of $2.06 billion, a P/E ratio of 10.67 and a beta of 0.70. Sixth Street Specialty Lending, Inc. has a 1-year low of $18.58 and a 1-year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $109.40 million for the quarter, compared to the consensus estimate of $108.35 million. Sixth Street Specialty Lending had a net margin of 41.24% and a return on equity of 13.20%. During the same period last year, the firm earned $0.57 EPS. Equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, December 15th. Sixth Street Specialty Lending’s payout ratio is presently 90.20%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $24.00 target price on shares of Sixth Street Specialty Lending in a research report on Wednesday, October 1st. Wells Fargo & Company dropped their price target on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Keefe, Bruyette & Woods cut their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Sixth Street Specialty Lending in a report on Wednesday, December 24th. Finally, Royal Bank Of Canada lowered their target price on Sixth Street Specialty Lending from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Check Out Our Latest Stock Analysis on TSLX

Sixth Street Specialty Lending Profile

(Free Report)

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.

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