Traders Purchase High Volume of Put Options on Blackstone Secured Lending Fund (NYSE:BXSL)

Key Points

• Unusual options activity: Investors purchased 3,314 put options on BXSL, 132% above its typical volume of 1,426 contracts, signaling increased downside hedging or bearish interest.
• Analyst sentiment is mixed: Several firms lowered their price targets, and MarketBeat reports an average “Hold” rating with a $24.78 target. BXSL shares fell 0.7% to $22.88, near the stock’s 12-month low.
• High income but elevated payout: BXSL reported quarterly EPS of $0.77, exceeding estimates, and maintained a $0.77 quarterly dividend, equivalent to a 13.5% annualized yield; its payout ratio stands at 161.26%.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) saw some unusual options trading on Thursday. Investors acquired 3,314 put options on the company. This represents an increase of 132% compared to the typical volume of 1,426 put options.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Blackstone Secured Lending Fund from $24.75 to $24.50 and set a "neutral" rating on the stock in a research report on Monday, May 18th. B. Riley Financial reduced their price objective on Blackstone Secured Lending Fund from $24.50 to $23.50 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Royal Bank Of Canada decreased their price objective on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company dropped their target price on Blackstone Secured Lending Fund from $24.00 to $22.00 and set an "underweight" rating for the company in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of "Hold" and an average price target of $24.78.

Insider Activity

In other Blackstone Secured Lending Fund news, insider Robert J. Bass purchased 2,095 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $23.80 per share, with a total value of $49,861.00. Following the completion of the acquisition, the insider directly owned 25,107 shares of the company's stock, valued at $597,546.60. This represents a 9.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in 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. Van ECK Associates Corp increased its stake in shares of Blackstone Secured Lending Fund by 112.1% in the 4th quarter. Van ECK Associates Corp now owns 5,149,915 shares of the company's stock valued at $135,597,000 after acquiring an additional 2,721,843 shares during the last quarter. UBS Group AG raised its position in shares of Blackstone Secured Lending Fund by 112.5% in the 4th quarter. UBS Group AG now owns 4,731,343 shares of the company's stock valued at $124,576,000 after acquiring an additional 2,504,617 shares during the period. Strs Ohio acquired a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter valued at approximately $94,760,000. Finally, Northeast Financial Consultants Inc boosted its stake in Blackstone Secured Lending Fund by 6.9% during the 2nd quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company's stock worth $103,305,000 after acquiring an additional 216,835 shares during the last quarter. 36.49% of the stock is owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Trading Down 0.7%

Shares of BXSL traded down $0.15 on Thursday, reaching $22.88. 983,866 shares of the company's stock were exchanged, compared to its average volume of 2,270,428. The stock has a market capitalization of $5.32 billion, a P/E ratio of 11.99 and a beta of 0.37. The business has a 50 day moving average price of $23.59 and a two-hundred day moving average price of $24.18. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $31.87.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. The firm had revenue of $254.64 million for the quarter, compared to analysts' expectations of $353.15 million. Equities research analysts predict that Blackstone Secured Lending Fund will post 2.75 EPS for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Tuesday, June 30th were paid a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 13.5%. Blackstone Secured Lending Fund's dividend payout ratio is 161.26%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.