Blackstone Secured Lending Fund (NYSE:BXSL) Now Covered by Analysts at Oppenheimer

Equities researchers at Oppenheimer initiated coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a report released on Thursday. The firm set a “market perform” rating on the stock.

A number of other research firms have also recently weighed in on BXSL. Wall Street Zen raised shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. B. Riley Financial cut their target price on Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Royal Bank Of Canada decreased their price target on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Wells Fargo & Company lowered their price target 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 objective on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.75.

Blackstone Secured Lending Fund Trading Down 0.7%

Shares of BXSL opened at $23.25 on Thursday. The company’s 50-day moving average price is $23.66 and its 200 day moving average price is $24.29. Blackstone Secured Lending Fund has a 12-month low of $22.47 and a 12-month high of $32.81. The firm has a market cap of $5.41 billion, a P/E ratio of 12.17 and a beta of 0.37.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its earnings results on Thursday, May 7th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $254.64 million during the quarter, compared to analyst estimates of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. Equities research analysts forecast that Blackstone Secured Lending Fund will post 2.77 earnings per share for the current year.

Insider Transactions at Blackstone Secured Lending Fund

In related news, insider Robert J. Bass acquired 2,095 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $23.80 per share, with a total value of $49,861.00. Following the completion of the transaction, the insider owned 25,107 shares of the company’s stock, valued at $597,546.60. The trade was a 9.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BXSL. Allied Private Wealth LLC acquired a new position in shares of Blackstone Secured Lending Fund during the second quarter worth about $32,000. FNY Investment Advisers LLC acquired a new stake in Blackstone Secured Lending Fund in the second quarter valued at approximately $33,000. Osterweis Capital Management Inc. purchased a new position in Blackstone Secured Lending Fund in the fourth quarter worth approximately $33,000. Hilton Head Capital Partners LLC purchased a new position in Blackstone Secured Lending Fund in the fourth quarter worth approximately $34,000. Finally, Quantum Portfolio Management LLC acquired a new position in shares of Blackstone Secured Lending Fund during the first quarter worth $38,000. 36.49% of the stock is owned by institutional investors and hedge funds.

About Blackstone Secured Lending Fund

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.