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

Wall Street Zen upgraded shares of Blackstone Secured Lending Fund (NYSE:BXSL) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other equities research analysts have also recently commented on BXSL. Wells Fargo & Company cut shares of Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $26.00 to $24.00 in a report on Wednesday, January 7th. Royal Bank Of Canada reduced their target price on Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. Bank of America dropped their price target on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. B. Riley Financial reduced their price objective on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Blackstone Secured Lending Fund presently has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Blackstone Secured Lending Fund Stock Performance

Blackstone Secured Lending Fund stock opened at $23.75 on Friday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 8.93 and a beta of 0.41. Blackstone Secured Lending Fund has a 52-week low of $23.42 and a 52-week high of $34.59. The stock’s 50 day moving average price is $26.06 and its two-hundred day moving average price is $27.14.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BXSL. Armstrong Advisory Group Inc. raised its position in Blackstone Secured Lending Fund by 135.1% in the 4th quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $26,000 after buying an additional 574 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Blackstone Secured Lending Fund during the 4th quarter worth $33,000. Hilton Head Capital Partners LLC bought a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter worth $34,000. Evolution Wealth Management Inc. purchased a new stake in shares of Blackstone Secured Lending Fund in the second quarter valued at about $37,000. Finally, Spire Wealth Management raised its holdings 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 valued at $45,000 after purchasing an additional 767 shares during the last quarter. Hedge funds and other 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.