Wall Street Zen Downgrades Blackstone Secured Lending Fund (NYSE:BXSL) to Sell

by · The Markets Daily

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research firms have also recently weighed in on BXSL. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. UBS Group decreased their price target on shares of Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada lowered their price objective on Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. B. Riley Financial decreased their target price on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Wells Fargo & Company downgraded Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $26.00 to $24.00 in a research note on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Get Our Latest Stock Report on BXSL

Blackstone Secured Lending Fund Trading Up 1.5%

Shares of BXSL stock opened at $24.92 on Friday. Blackstone Secured Lending Fund has a 12-month low of $24.17 and a 12-month high of $34.64. The business’s 50 day moving average is $26.74 and its two-hundred day moving average is $27.60. The company has a market capitalization of $5.76 billion, a P/E ratio of 9.37 and a beta of 0.41.

Blackstone Secured Lending Fund (NYSE:BXSL – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Blackstone Secured Lending Fund had a return on equity of 11.85% and a net margin of 42.38%.The business had revenue of $358.56 million during the quarter, compared to analysts’ expectations of $353.55 million. On average, research analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Institutional Trading of Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently bought and sold shares of BXSL. UBS Group AG increased its stake in Blackstone Secured Lending Fund by 112.5% during the fourth quarter. UBS Group AG now owns 4,731,343 shares of the company’s stock worth $124,576,000 after purchasing an additional 2,504,617 shares during the period. Bank of America Corp DE grew its holdings 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 in the last quarter. Marshall Wace LLP lifted its position in shares of Blackstone Secured Lending Fund by 1,160.9% during the 3rd quarter. Marshall Wace LLP now owns 869,964 shares of the company’s stock worth $22,680,000 after purchasing an additional 800,969 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Blackstone Secured Lending Fund by 106.0% during the second quarter. 1832 Asset Management L.P. now owns 1,166,150 shares of the company’s stock worth $35,859,000 after purchasing an additional 600,150 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Blackstone Secured Lending Fund by 121.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,033,229 shares of the company’s stock valued at $26,936,000 after buying an additional 566,034 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone Secured Lending Fund

(Get Free Report)

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.

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