Legacy Capital Wealth Partners LLC Sells 77,667 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Legacy Capital Wealth Partners LLC lowered its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 53.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,031 shares of the financial services provider’s stock after selling 77,667 shares during the quarter. Legacy Capital Wealth Partners LLC owned 0.07% of Sixth Street Specialty Lending worth $1,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSLX. Whittier Trust Co. of Nevada Inc. bought a new stake in Sixth Street Specialty Lending in the third quarter valued at about $196,000. Private Advisor Group LLC increased its stake in Sixth Street Specialty Lending by 26.8% in the third quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 5,398 shares during the period. Romano Brothers AND Company increased its stake in Sixth Street Specialty Lending by 50.8% in the third quarter. Romano Brothers AND Company now owns 26,700 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 9,000 shares during the period. Grimes & Company Inc. boosted its position in Sixth Street Specialty Lending by 16.4% in the third quarter. Grimes & Company Inc. now owns 18,400 shares of the financial services provider’s stock valued at $378,000 after buying an additional 2,591 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its position in Sixth Street Specialty Lending by 6.6% in the third quarter. Financial Advocates Investment Management now owns 151,985 shares of the financial services provider’s stock valued at $3,120,000 after buying an additional 9,350 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLX shares. Wells Fargo & Company boosted their price target 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. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock opened at $22.97 on Friday. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.50 and a 1 year high of $23.15. The firm’s 50 day moving average is $21.57 and its 200-day moving average is $21.02. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.15 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its 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 net margin of 39.05% and a return on equity of 13.55%. The company had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.07 dividend. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, March 14th. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

About Sixth Street Specialty Lending

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.