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

Key Points

• Blackstone Secured Lending Fund (BXSL) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen analysts, indicating a more favorable outlook for the stock.
• The stock currently has an average target price of $31.16, with a consensus rating of "Moderate Buy" based on insights from multiple analysts.
• Despite recent upgrades, BXSL shares traded down by 1.0% on Friday, with a market cap of $5.77 billion and previous earnings missing consensus estimates.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other equities analysts have also issued research reports about the company. Zacks Research raised Blackstone Secured Lending Fund from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. B. Riley began coverage on Blackstone Secured Lending Fund in a report on Thursday, September 25th. They issued a "buy" rating and a $32.00 target price on the stock. UBS Group began coverage on Blackstone Secured Lending Fund in a report on Thursday, September 11th. They issued a "neutral" rating and a $31.00 target price on the stock. Wells Fargo & Company increased their target price on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their price objective on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Blackstone Secured Lending Fund currently has an average rating of "Moderate Buy" and an average target price of $31.16.

Blackstone Secured Lending Fund Trading Down 1.0%

Shares of NYSE BXSL opened at $25.05 on Friday. The stock has a market cap of $5.77 billion, a P/E ratio of 8.82 and a beta of 0.42. Blackstone Secured Lending Fund has a 12-month low of $24.85 and a 12-month high of $34.64. The business's fifty day simple moving average is $28.57 and its 200-day simple moving average is $30.07.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $344.80 million during the quarter, compared to analysts' expectations of $353.55 million. Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. On average, equities analysts forecast that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Insider Activity

In related news, insider Robert J. Bass purchased 3,760 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were purchased at an average price of $26.63 per share, with a total value of $100,128.80. Following the completion of the acquisition, the insider directly owned 21,167 shares in the company, valued at $563,677.21. This represents a 21.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Blackstone Secured Lending Fund by 11.9% during the second quarter. Bank of America Corp DE now owns 7,820,346 shares of the company's stock worth $240,476,000 after buying an additional 832,179 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Blackstone Secured Lending Fund by 3.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 4,260,951 shares of the company's stock worth $131,024,000 after buying an additional 156,680 shares during the last quarter. Northeast Financial Consultants Inc lifted its position in Blackstone Secured Lending Fund by 6.9% in the second quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company's stock valued at $103,305,000 after purchasing an additional 216,835 shares during the period. CCLA Investment Management lifted its position in Blackstone Secured Lending Fund by 54.1% in the first quarter. CCLA Investment Management now owns 3,214,583 shares of the company's stock valued at $104,023,000 after purchasing an additional 1,128,986 shares during the period. Finally, Generali Asset Management SPA SGR lifted its position in Blackstone Secured Lending Fund by 2.0% in the second quarter. Generali Asset Management SPA SGR now owns 2,011,704 shares of the company's stock valued at $61,860,000 after purchasing an additional 39,300 shares during the period. Hedge funds and other institutional investors own 36.49% of the company's stock.

Blackstone Secured Lending Fund Company Profile

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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