Blackstone Secured Lending Fund (NYSE:BXSL) Cut to Sell at Wall Street Zen

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

A number of other brokerages also recently issued reports on BXSL. Bank of America lowered their price target on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 28th. B. Riley Financial lowered their target price on shares of Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Wells Fargo & Company downgraded shares of Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $26.00 to $24.00 in a report on Wednesday, January 7th. Royal Bank Of Canada decreased their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Blackstone Secured Lending Fund from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Blackstone Secured Lending Fund Stock Performance

NYSE:BXSL opened at $23.91 on Friday. The firm has a market cap of $5.55 billion, a P/E ratio of 9.72 and a beta of 0.41. Blackstone Secured Lending Fund has a fifty-two week low of $23.31 and a fifty-two week high of $34.17. The firm has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $26.92.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $196.54 million during the quarter, compared to the consensus estimate of $359.59 million. Blackstone Secured Lending Fund had a net margin of 39.69% and a return on equity of 11.81%. On average, equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current year.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds have recently bought and sold shares of BXSL. Armstrong Advisory Group Inc. raised its stake in shares of Blackstone Secured Lending Fund by 135.1% in the fourth quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock worth $26,000 after buying an additional 574 shares during the period. Osterweis Capital Management Inc. bought a new stake in Blackstone Secured Lending Fund during the 4th quarter worth approximately $33,000. Hilton Head Capital Partners LLC bought a new stake in Blackstone Secured Lending Fund during the 4th quarter worth approximately $34,000. Evolution Wealth Management Inc. purchased a new position in Blackstone Secured Lending Fund during the second quarter valued at approximately $37,000. Finally, Spire Wealth Management boosted its position 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 purchasing an additional 767 shares during the period. Institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.