Blackstone Secured Lending Fund (NYSE:BXSL) Downgraded to Strong Sell Rating by Zacks Research

Blackstone Secured Lending Fund (NYSE:BXSL) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on BXSL. Wells Fargo & Company decreased their price target on shares of Blackstone Secured Lending Fund from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, May 8th. Truist Financial dropped their price objective on Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. B. Riley Financial reduced their target price on Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods lowered Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $25.00 to $24.00 in a research note on Monday, June 8th. Finally, Royal Bank Of Canada lowered their price target on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.75.

Blackstone Secured Lending Fund Trading Down 0.4%

Shares of NYSE:BXSL opened at $23.14 on Tuesday. The company has a 50 day moving average of $23.80 and a 200 day moving average of $24.53. The stock has a market cap of $5.38 billion, a P/E ratio of 12.12 and a beta of 0.37. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $32.81.

Blackstone Secured Lending Fund (NYSE:BXSL) last posted its earnings results on Thursday, May 7th. The company reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $254.64 million for the quarter, compared to analyst estimates of $353.15 million. On average, equities analysts forecast that Blackstone Secured Lending Fund will post 2.77 earnings per share for the current fiscal year.

Insider Activity at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass bought 2,095 shares of Blackstone Secured Lending Fund stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $23.80 per share, with a total value of $49,861.00. Following the acquisition, the insider owned 25,107 shares in the company, valued at approximately $597,546.60. This trade represents a 9.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Delphi Management Inc. MA increased its holdings in shares of Blackstone Secured Lending Fund by 0.9% in the fourth quarter. Delphi Management Inc. MA now owns 45,939 shares of the company’s stock worth $1,210,000 after buying an additional 421 shares during the period. Walter & Keenan Wealth Management LLC IN ADV lifted its position in Blackstone Secured Lending Fund by 1.8% in the fourth quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 25,632 shares of the company’s stock valued at $675,000 after purchasing an additional 443 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in shares of Blackstone Secured Lending Fund by 2.4% during the fourth quarter. Wealthspire Advisors LLC now owns 19,343 shares of the company’s stock valued at $509,000 after purchasing an additional 461 shares during the period. Spire Wealth Management boosted its stake in shares of Blackstone Secured Lending Fund by 0.6% during the fourth quarter. Spire Wealth Management now owns 80,434 shares of the company’s stock valued at $2,118,000 after purchasing an additional 486 shares during the period. Finally, Valtrion Capital Management LLC grew its holdings in shares of Blackstone Secured Lending Fund by 3.5% in the fourth quarter. Valtrion Capital Management LLC now owns 14,607 shares of the company’s stock worth $385,000 after purchasing an additional 494 shares during the last quarter. 36.49% of the stock is owned by institutional investors.

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.