Envestnet Asset Management Inc. Reduces Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Envestnet Asset Management Inc. trimmed its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 510,243 shares of the financial services provider’s stock after selling 34,759 shares during the period. Envestnet Asset Management Inc. owned approximately 0.55% of Sixth Street Specialty Lending worth $10,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 465 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Sixth Street Specialty Lending by 13.3% in the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 550 shares during the period. Cornerstone Wealth Management LLC increased its position in Sixth Street Specialty Lending by 1.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 621 shares during the last quarter. Dearborn Partners LLC lifted its holdings in Sixth Street Specialty Lending by 1.3% in the fourth quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider’s stock valued at $1,252,000 after acquiring an additional 763 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Sixth Street Specialty Lending by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 909 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Up 1.6 %

Shares of TSLX stock opened at $20.43 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90. Sixth Street Specialty Lending, Inc. has a one year low of $18.58 and a one year high of $23.67. The company’s fifty day moving average price is $21.97 and its 200-day moving average price is $21.37. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.07 and a beta of 0.88.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The business had revenue of $123.70 million during the quarter, compared to analyst estimates of $120.07 million. Sell-side analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were paid a dividend of $0.07 per share. This represents a yield of 6.99%. The ex-dividend date was Friday, February 28th. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 90.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their target price on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.17.

Sixth Street Specialty Lending 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.