Blackstone Secured Lending Fund (NYSE:BXSL) Raised to Hold at Wall Street Zen

Blackstone Secured Lending Fund (NYSE:BXSL) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also commented on BXSL. B. Riley dropped their price target on shares of Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price objective on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their target price on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods lowered their price target on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Royal Bank Of Canada cut their price objective on Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.43.

Blackstone Secured Lending Fund Trading Up 0.2%

Blackstone Secured Lending Fund stock opened at $26.68 on Friday. The stock has a fifty day moving average price of $26.81 and a 200 day moving average price of $29.52. Blackstone Secured Lending Fund has a 52 week low of $24.85 and a 52 week high of $34.64. The firm has a market capitalization of $6.17 billion, a P/E ratio of 10.03 and a beta of 0.42.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The company had revenue of $358.56 million during the quarter, compared to analysts’ expectations of $353.55 million. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%. As a group, equities analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Insider Transactions at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass acquired 3,760 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were bought at an average price of $26.63 per share, for a total transaction of $100,128.80. Following the completion of the purchase, the insider directly owned 21,167 shares of the company’s stock, valued at approximately $563,677.21. This trade represents a 21.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Large investors have recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Blackstone Secured Lending Fund in the 1st quarter worth $30,000. Evolution Wealth Management Inc. purchased a new stake in shares of Blackstone Secured Lending Fund during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Blackstone Secured Lending Fund by 45.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock worth $41,000 after acquiring an additional 395 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Blackstone Secured Lending Fund by 109.6% in the second quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock worth $45,000 after acquiring an additional 767 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new position in Blackstone Secured Lending Fund in the third quarter valued at about $53,000. 36.49% of the stock is owned by institutional investors and hedge funds.

About Blackstone Secured Lending Fund

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).