Blackstone Secured Lending Fund (NYSE:BXSL) Releases Earnings Results, Beats Estimates By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) released its quarterly earnings results on Monday. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02, Zacks reports. Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%.

Blackstone Secured Lending Fund Price Performance

Shares of NYSE BXSL traded up $0.27 during midday trading on Monday, reaching $26.76. 478,707 shares of the stock were exchanged, compared to its average volume of 1,365,095. Blackstone Secured Lending Fund has a 12 month low of $24.85 and a 12 month high of $34.64. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 9.39 and a beta of 0.42. The business has a 50-day simple moving average of $27.09 and a two-hundred day simple moving average of $29.62.

Insider Buying and Selling

In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 3,760 shares of Blackstone Secured Lending Fund stock in a transaction on Monday, October 6th. The shares were purchased at an average cost of $26.63 per share, for a total transaction of $100,128.80. Following the completion of the acquisition, the insider owned 21,167 shares in the company, valued at approximately $563,677.21. The trade was a 21.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Blackstone Secured Lending Fund by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock worth $240,476,000 after acquiring an additional 832,179 shares during the last quarter. Northeast Financial Consultants Inc lifted its position in shares of 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 worth $103,305,000 after purchasing an additional 216,835 shares in the last quarter. HRT Financial LP boosted its holdings in Blackstone Secured Lending Fund by 104.2% during the second quarter. HRT Financial LP now owns 384,423 shares of the company’s stock worth $11,821,000 after purchasing an additional 196,187 shares during the last quarter. Snowden Capital Advisors LLC grew its position in Blackstone Secured Lending Fund by 370.6% in the second quarter. Snowden Capital Advisors LLC now owns 234,313 shares of the company’s stock valued at $7,386,000 after purchasing an additional 184,520 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Blackstone Secured Lending Fund in the 2nd quarter valued at $2,122,000. Institutional investors own 36.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods raised Blackstone Secured Lending Fund from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $31.00 to $30.00 in a report on Monday, October 6th. B. Riley assumed coverage on Blackstone Secured Lending Fund in a research note on Thursday, September 25th. They set a “buy” rating and a $32.00 price target on the stock. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. UBS Group lowered their price objective on Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.78.

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).