Short Interest in Blackstone Secured Lending Fund (NYSE:BXSL) Grows By 35.2%

Blackstone Secured Lending Fund (NYSE:BXSLGet Rating) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 75,300 shares, a growth of 35.2% from the March 15th total of 55,700 shares. Based on an average trading volume of 179,400 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are short sold.

A number of research firms recently weighed in on BXSL. Raymond James raised Blackstone Secured Lending Fund from an “underperform” rating to a “market perform” rating in a report on Monday, February 14th. Zacks Investment Research lowered Blackstone Secured Lending Fund from a “buy” rating to a “hold” rating in a report on Thursday, March 3rd. Royal Bank of Canada reduced their target price on Blackstone Secured Lending Fund from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Citigroup raised Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday, March 3rd. Finally, Wells Fargo & Company raised Blackstone Secured Lending Fund from an “equal weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Wednesday, March 2nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.28.

Blackstone Secured Lending Fund stock opened at $27.40 on Monday. Blackstone Secured Lending Fund has a 12 month low of $26.15 and a 12 month high of $38.32. The company has a 50-day moving average price of $28.73.

Blackstone Secured Lending Fund (NYSE:BXSLGet Rating) last posted its earnings results on Monday, February 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $192.00 million during the quarter, compared to the consensus estimate of $176.57 million. On average, equities research analysts anticipate that Blackstone Secured Lending Fund will post 2.43 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $230,893,000. Citadel Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $10,203,000. Kayne Anderson Capital Advisors LP bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $3,965,000. Clough Capital Partners L P bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $3,920,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth about $2,009,000. Institutional investors own 12.33% of the company’s stock.

Blackstone Secured Lending Fund Company Profile (Get Rating)

Blackstone Secured Lending Fund (together with its consolidated subsidiaries, the Company), is a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).

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