Blackstone Secured Lending Fund (NYSE:BXSL) Coverage Initiated at Oppenheimer

Oppenheimer assumed coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a report issued on Thursday, MarketBeat.com reports. The brokerage set a “market perform” rating and a $25.00 price target on the stock. Oppenheimer’s target price indicates a potential upside of 7.68% from the stock’s previous close.

Other analysts have also issued reports about the stock. UBS Group decreased their price target on shares of Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. Truist Financial reduced their price objective on shares of 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. 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. JPMorgan Chase & Co. lowered their price objective on Blackstone Secured Lending Fund from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Finally, Zacks Research downgraded Blackstone Secured Lending Fund from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.78.

Blackstone Secured Lending Fund Trading Up 0.4%

Shares of NYSE:BXSL opened at $23.22 on Thursday. The company has a market capitalization of $5.40 billion, a PE ratio of 12.16 and a beta of 0.37. Blackstone Secured Lending Fund has a 12-month low of $22.47 and a 12-month high of $32.67. The business’s fifty day simple moving average is $23.62 and its 200-day simple moving average is $24.26.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data 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 return on equity of 11.73% and a net margin of 31.63%.The firm had revenue of $254.64 million during the quarter, compared to analysts’ expectations of $353.15 million. Research analysts predict that Blackstone Secured Lending Fund will post 2.77 EPS for the current year.

Insider Transactions at Blackstone Secured Lending Fund

In related news, insider Robert J. Bass purchased 2,095 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $23.80 per share, with a total value of $49,861.00. Following the completion of the acquisition, the insider owned 25,107 shares in the company, valued at approximately $597,546.60. This represents a 9.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several hedge funds have recently made changes to their positions in BXSL. Allied Private Wealth LLC acquired a new stake in Blackstone Secured Lending Fund during the 2nd quarter worth about $32,000. FNY Investment Advisers LLC acquired a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at about $33,000. Osterweis Capital Management Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the fourth quarter valued at about $33,000. Hilton Head Capital Partners LLC purchased a new position in shares of Blackstone Secured Lending Fund in the fourth quarter worth about $34,000. Finally, Quantum Portfolio Management LLC purchased a new position in shares of Blackstone Secured Lending Fund in the first quarter worth about $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.