Blackstone Secured Lending Fund (NYSE:BXSL) Sees Large Volume Increase

Blackstone Secured Lending Fund (NYSE:BXSLGet Rating) shares saw strong trading volume on Monday . 19,957 shares traded hands during trading, a decline of 94% from the previous session’s volume of 334,699 shares.The stock last traded at $24.10 and had previously closed at $23.18.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James upgraded shares of Blackstone Secured Lending Fund from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Friday, May 13th. Compass Point upgraded shares of Blackstone Secured Lending Fund from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus target price of $29.81.

Blackstone Secured Lending Fund Trading Down 2.7 %

The business’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $27.19.

Blackstone Secured Lending Fund (NYSE:BXSLGet Rating) last released its earnings results on Thursday, May 12th. The company reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $183.44 million. Equities research analysts anticipate that Blackstone Secured Lending Fund will post 2.46 earnings per share for the current year.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently modified their holdings of BXSL. Shufro Rose & Co. LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $712,000. Amplius Wealth Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $510,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $230,893,000. Kayne Anderson Capital Advisors LP bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $3,965,000. Finally, HighTower Advisors LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter valued at about $418,000. 23.95% of the stock is owned by institutional investors.

Blackstone Secured Lending Fund Company Profile

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Blackstone Secured Lending Fund is business development company and 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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