Blackstone Secured Lending Fund (NYSE:BXSL) Price Target Cut to $29.00 by Analysts at Keefe, Bruyette & Woods

Blackstone Secured Lending Fund (NYSE:BXSL) had its price target decreased by analysts at Keefe, Bruyette & Woods from $30.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 8.93% from the stock’s previous close.

BXSL has been the subject of a number of other research reports. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group dropped their price target on Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Royal Bank Of Canada decreased their price objective on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Wells Fargo & Company cut their price target on shares of Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen cut shares of Blackstone Secured Lending Fund from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Blackstone Secured Lending Fund currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.41.

Blackstone Secured Lending Fund Stock Performance

BXSL traded up $0.02 during midday trading on Tuesday, reaching $26.62. 735,038 shares of the company were exchanged, compared to its average volume of 1,369,699. The stock has a market capitalization of $6.13 billion, a P/E ratio of 9.38 and a beta of 0.42. Blackstone Secured Lending Fund has a one year low of $24.85 and a one year high of $34.64. The stock’s 50-day simple moving average is $27.03 and its 200 day simple moving average is $29.60.

Insiders Place Their Bets

In related news, insider Robert J. Bass acquired 3,760 shares of the stock in a transaction on Monday, October 6th. The shares were purchased at an average price of $26.63 per share, for a total transaction of $100,128.80. Following the purchase, the insider directly owned 21,167 shares in the company, valued at approximately $563,677.21. The trade was a 21.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Hedge funds have recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the 1st quarter valued at approximately $30,000. Evolution Wealth Management Inc. bought a new stake in shares of Blackstone Secured Lending Fund during the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Blackstone Secured Lending Fund by 45.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock worth $41,000 after buying an additional 395 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Blackstone Secured Lending Fund by 109.6% in the 2nd quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock valued at $45,000 after acquiring an additional 767 shares during the last quarter. Finally, Westfuller Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund in the 3rd quarter valued at $53,000. 36.49% of the stock is owned by institutional investors.

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).