Platform Technology Partners Has $523,000 Stock Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Platform Technology Partners lifted its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 10.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,665 shares of the financial services provider’s stock after acquiring an additional 2,665 shares during the quarter. Platform Technology Partners’ holdings in Sixth Street Specialty Lending were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TSLX. Millennium Management LLC increased its position in Sixth Street Specialty Lending by 303.5% during the second quarter. Millennium Management LLC now owns 768,217 shares of the financial services provider’s stock worth $14,212,000 after buying an additional 577,842 shares during the last quarter. Partners Group Holding AG acquired a new position in Sixth Street Specialty Lending during the first quarter worth approximately $8,605,000. 1832 Asset Management L.P. acquired a new position in Sixth Street Specialty Lending during the first quarter worth approximately $5,629,000. LSV Asset Management increased its position in Sixth Street Specialty Lending by 47.1% during the first quarter. LSV Asset Management now owns 924,983 shares of the financial services provider’s stock worth $16,927,000 after buying an additional 296,159 shares during the last quarter. Finally, Credit Suisse AG increased its position in Sixth Street Specialty Lending by 5,425.3% during the first quarter. Credit Suisse AG now owns 251,014 shares of the financial services provider’s stock worth $4,594,000 after buying an additional 246,471 shares during the last quarter. Institutional investors and hedge funds own 48.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. TheStreet raised Sixth Street Specialty Lending from a “c+” rating to a “b” rating in a research report on Wednesday, August 16th. B. Riley upped their target price on Sixth Street Specialty Lending from $21.00 to $22.00 in a research report on Monday, August 7th. StockNews.com assumed coverage on Sixth Street Specialty Lending in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada upped their target price on Sixth Street Specialty Lending from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Finally, Truist Financial upped their target price on Sixth Street Specialty Lending from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Sixth Street Specialty Lending currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded up $0.04 during trading on Monday, hitting $20.35. The company had a trading volume of 90,770 shares, compared to its average volume of 411,652. The stock’s 50-day moving average price is $19.99 and its 200 day moving average price is $18.82. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.55 and a current ratio of 1.55. Sixth Street Specialty Lending, Inc. has a one year low of $16.02 and a one year high of $20.97. The firm has a market capitalization of $1.78 billion, a P/E ratio of 8.91 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. Sixth Street Specialty Lending had a return on equity of 13.22% and a net margin of 48.89%. The firm had revenue of $107.61 million during the quarter, compared to analysts’ expectations of $101.30 million. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.27 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.04. This represents a $1.84 annualized dividend and a dividend yield of 9.04%. Sixth Street Specialty Lending’s dividend payout ratio is 80.70%.

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.