IHT Wealth Management LLC Raises Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

IHT Wealth Management LLC raised its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) by 14.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 60,615 shares of the financial services provider’s stock after buying an additional 7,482 shares during the period. IHT Wealth Management LLC’s holdings in Sixth Street Specialty Lending were worth $990,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLX. Salem Investment Counselors Inc. purchased a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth $25,000. Private Trust Co. NA purchased a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth $35,000. Credit Suisse AG purchased a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth $85,000. EMC Capital Management grew its holdings in shares of Sixth Street Specialty Lending by 50.8% during the 2nd quarter. EMC Capital Management now owns 4,734 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 1,595 shares during the period. Finally, CAPROCK Group Inc. purchased a new position in shares of Sixth Street Specialty Lending during the 3rd quarter worth $166,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sixth Street Specialty Lending

In related news, insider Michael Graf purchased 2,000 shares of Sixth Street Specialty Lending stock in a transaction on Thursday, March 9th. The shares were bought at an average price of $18.55 per share, with a total value of $37,100.00. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $37,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sixth Street Specialty Lending news, insider Michael Graf acquired 2,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were acquired at an average price of $18.55 per share, for a total transaction of $37,100.00. Following the acquisition, the insider now owns 2,000 shares in the company, valued at approximately $37,100. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hurley Doddy acquired 2,900 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $17.51 per share, for a total transaction of $50,779.00. Following the acquisition, the director now owns 15,241 shares in the company, valued at approximately $266,869.91. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $22.00 price target on shares of Sixth Street Specialty Lending in a report on Monday, March 13th. Keefe, Bruyette & Woods increased their target price on Sixth Street Specialty Lending from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Finally, StockNews.com started coverage on Sixth Street Specialty Lending in a research note on Thursday. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Sixth Street Specialty Lending Price Performance

TSLX stock opened at $17.10 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market capitalization of $1.39 billion, a P/E ratio of 12.57 and a beta of 1.07. The business’s 50-day moving average is $18.77 and its two-hundred day moving average is $18.23. Sixth Street Specialty Lending, Inc. has a 1 year low of $16.02 and a 1 year high of $23.68.

Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last posted its quarterly earnings results on Friday, February 17th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $309.31 million for the quarter, compared to analyst estimates of $94.08 million. Sixth Street Specialty Lending had a return on equity of 12.91% and a net margin of 34.95%. Sixth Street Specialty Lending’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.22 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 14th. This represents a yield of 9.4%. This is a positive change from Sixth Street Specialty Lending’s previous Variable dividend of $0.04. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 135.29%.

Sixth Street Specialty Lending Profile

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Sixth Street Specialty Lending, Inc engages in the provision of financing solutions. It invests in first-lien debt, second-lien debt, mezzanine and unsecured debt or equity or other securities issued by middle-market companies. The company is founded in 2010 and is headquartered in New York, NY.