Blackstone Secured Lending Fund (NYSE:BXSL) Upgraded to Hold at Zacks Research

Key Points

• Blackstone Secured Lending Fund (NYSE:BXSL) was upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more favorable outlook for the stock.
• Wells Fargo raised its price target on BXSL from $27.00 to $28.00, while JPMorgan lowered its target from $30.50 to $29.00, reflecting varying assessments among analysts.
• In recent insider activity, Robert J. Bass purchased 3,760 shares at an average price of $26.63, increasing his position in the company by 21.60%.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also weighed in on BXSL. Wells Fargo & Company lifted their price objective on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Royal Bank Of Canada dropped their target price on shares of 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. B. Riley started coverage on shares of Blackstone Secured Lending Fund in a report on Thursday, September 25th. They set a "buy" rating and a $32.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone Secured Lending Fund from $30.50 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods upgraded shares of Blackstone Secured Lending Fund from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $31.00 to $30.00 in a report on Monday. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.16.

Blackstone Secured Lending Fund Trading Down 1.0%

NYSE BXSL opened at $25.78 on Monday. The company has a fifty day simple moving average of $28.94 and a 200 day simple moving average of $30.21. The company has a market cap of $5.93 billion, a P/E ratio of 9.08 and a beta of 0.42. Blackstone Secured Lending Fund has a 1 year low of $25.63 and a 1 year high of $34.64.

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

Insider Activity at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass purchased 3,760 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were acquired at an average cost of $26.63 per share, for a total transaction of $100,128.80. Following the completion of the purchase, the insider owned 21,167 shares of the company's stock, valued at approximately $563,677.21. The trade was a 21.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company's stock.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in BXSL. Wealthcare Advisory Partners LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the first quarter valued at approximately $2,449,000. Redhawk Wealth Advisors Inc. raised its position in shares of Blackstone Secured Lending Fund by 33.5% in the first quarter. Redhawk Wealth Advisors Inc. now owns 31,358 shares of the company's stock valued at $1,015,000 after buying an additional 7,869 shares in the last quarter. Investment Partners Asset Management Inc. lifted its position in Blackstone Secured Lending Fund by 2.0% during the first quarter. Investment Partners Asset Management Inc. now owns 19,710 shares of the company's stock worth $638,000 after purchasing an additional 381 shares during the period. Simon Quick Advisors LLC bought a new stake in Blackstone Secured Lending Fund during the first quarter worth about $472,000. Finally, BigSur Wealth Management LLC lifted its position in Blackstone Secured Lending Fund by 0.4% during the first quarter. BigSur Wealth Management LLC now owns 122,329 shares of the company's stock worth $4,053,000 after purchasing an additional 448 shares during the period. 36.49% of the stock is currently 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).

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