Clayton Partners LLC Reduces Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

VaselineSeptember 21, 2024

0 4 minutes read

Clayton Partners LLC reduced its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Free Report) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 141,569 shares of the financial services provider’s stock after selling 1,834 shares during the quarter. Sixth Street Specialty Lending comprises 2.4% of Clayton Partners LLC’s investment portfolio, making the stock its 19th largest position. Clayton Partners LLC owned about 0.15% of Sixth Street Specialty Lending worth $3,022,000 at the end of the most recent quarter.

Several other institutional investors have added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its position in shares of Sixth Street Specialty Lending by 4.0% in the first quarter. Sound Income Strategies LLC now owns 2,070,259 shares of the financial services provider’s stock worth $44,366,000 after purchasing an additional 80,581 shares in the last quarter. Confluence Investment Management LLC bought a new position in Sixth Street Specialty Lending in the first quarter worth about $5,212,000. Baillie Gifford & Co. grew its holdings in Sixth Street Specialty Lending by 41.7% in the first quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock valued at $4,831,000 after purchasing an additional 66,348 shares during the last quarter. MGO One Seven LLC raised its holdings in Sixth Street Specialty Lending by 3,380.9% during the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock valued at $11,964,000 after bought an additional 537,964 shares in the last quarter. Finally, Naviter Wealth LLC bought a new stake in shares of Sixth Street Specialty Lending in the first quarter valued at approximately $1,326,000. 70.25% of the shares are held by hedge funds and other institutional investors.

Sixth Street’s specialty lending stocks fell 0.7%

Shares of TSLX opened at $20.48 on Friday. The company’s 50-day moving average is $20.96 and its 200-day moving average is $21.18. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 8.26 and a beta of 1.06. The company has a current ratio of 1.90, a quick ratio of 1.90, and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending, Inc. has a 1 year low of $19.02 and a 1 year high of $22.35.

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Sixth Street Specialty Lending (NYSE:TSLX – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The company had revenue of $121.82 million for the quarter, compared to analysts’ expectations of $120.33 million. In the same quarter last year, the company posted EPS of $0.58. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Raises Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, September 16. This represents an annualized dividend of $1.84 and a yield of 8.98%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. Sixth Street Lending’s specialty loan payout ratio is 74.19%.

Insider trading at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin acquired 7,015 shares of Sixth Street Specialty Lending stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the completion of the transaction, the director now directly owns 18,726 shares of the company’s stock, valued at $372,647.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.30% of the company’s shares.

Analysts set new price targets

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $22.67, according to MarketBeat.

Get the latest stock report on TSLX

Sixth Street Specialty Lending Profile

(Free Report)

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 and equity securities and structured products, non-controlling structured shares and common shares with a focus on growth co-investments organic, acquisitions, market or product expansion, restructuring initiatives, recapitalizations and refinancing.