Short-term interest in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) drops 17.1%
Sixth Street Specialty Lending, Inc. (NYSE: TSLX – Get a rating) was the target of a significant decline in short-term interest in May. As of May 31, there was short interest totaling 632,000 shares, down 17.1% from the May 15 total of 762,100 shares. Based on an average daily volume of 313,800 shares, the short interest ratio is currently 2.0 days.
In other Sixth Street Specialty Lending news, Vice President Jennifer Gordon purchased 2,500 shares of the company in a trade that took place on Tuesday, May 24. The shares were purchased at an average cost of $19.91 per share, with a total value of $49,775.00. Following the completion of the purchase, the vice president now directly owns 2,500 shares of the company, valued at $49,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Insiders of the company own 3.90% of the shares of the company.
Major investors have recently increased or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in Sixth Street Specialty Lending by 816.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,089,800 shares of the financial services provider worth $48,880,000 after buying an additional 1,861,722 shares in the last quarter. Morgan Stanley increased its holdings of Sixth Street Specialty Lending shares by 12.5% during the second quarter. Morgan Stanley now owns 2,034,545 shares of the financial services provider worth $45,147,000 after buying an additional 225,662 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Sixth Street Specialty Lending by 0.5% during the first quarter. Sound Income Strategies LLC now owns 1,376,160 shares of the financial services provider worth $32,051,000 after purchasing an additional 6,970 shares in the last quarter. Van ECK Associates Corp increased its stake in Sixth Street Specialty Lending by 20.8% in the first quarter. Van ECK Associates Corp now owns 1,234,247 shares of the financial services provider worth $28,746,000 after buying an additional 212,401 shares in the last quarter. Finally, Progeny 3 Inc. increased its stake in Sixth Street Specialty Lending by 30.2% during the 1st quarter. Progeny 3 Inc. now owns 1,106,395 shares of the financial services provider worth $25,768,000 after purchasing an additional 256,418 shares in the last quarter. 47.04% of the shares are currently held by institutional investors.
Shares of TSLX opened at $18.74 on Thursday. Sixth Street Specialty Lending has a 1-year low of $18.47 and a 1-year high of $24.74. The company has a market capitalization of $1.43 billion, a price-earnings ratio of 7.48 and a beta of 1.09. The company has a debt ratio of 0.87, a quick ratio of 0.58 and a current ratio of 0.58. The company has a fifty-day moving average of $21.65 and a 200-day moving average of $22.77.
Sixth Street Specialty Lending (NYSE: TSLX – Get a rating) last released its quarterly earnings data on Tuesday, May 3. The financial services provider reported earnings per share of $0.46 for the quarter, missing analyst consensus estimates of $0.50 per ($0.04). Sixth Street Specialty Lending had a net margin of 70.06% and a return on equity of 12.41%. The company posted revenue of $67.43 million for the quarter, versus a consensus estimate of $71.21 million. Analysts predict Sixth Street Specialty Lending will post 2 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Wednesday, June 15 will receive a dividend of $0.41. The ex-dividend date is Tuesday, June 14. This represents a dividend of $1.64 on an annualized basis and a yield of 8.75%. Sixth Street Specialty Lending’s dividend payout ratio is currently 65.08%.
A number of brokerages have commented on TSLX. StockNews.com began covering Sixth Street Specialty Lending stocks in a research note on Thursday, March 31. They issued a “hold” rating on the stock. Wells Fargo & Company raised its price target on shares of Sixth Street Specialty Lending from $24.50 to $25.00 and gave the company an “overweight” rating in a Tuesday, Feb. 22 research report. Finally, the Hovde Group reduced its target price on shares of Sixth Street Specialty Lending to $21.00 in a Friday, May 20 research note.
Sixth Street Specialty Loan Company Profile (Get a rating)
Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund offers senior secured loans (first lien, second lien and unitranche), unsecured loans, mezzanine debt and investments in corporate bonds, equity and structured products, equity structured non-controlling interests and common stock with an emphasis on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations and refinancing.
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