Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 1-Year High – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.80 and last traded at $33.64, with a volume of 399019 shares trading hands. The stock had previously closed at $33.40.

Analyst Ratings Changes

A number of analysts have recently weighed in on BXSL shares. JPMorgan Chase & Co. raised their price objective on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Compass Point dropped their price target on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Wells Fargo & Company increased their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone Secured Lending Fund currently has an average rating of “Moderate Buy” and a consensus target price of $32.13.

Blackstone Secured Lending Fund Price Performance

The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 9.39 and a beta of 0.43. The business has a fifty day moving average price of $32.48 and a two-hundred day moving average price of $31.15.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

Several institutional investors have recently made changes to their positions in BXSL. Signaturefd LLC acquired a new position in Blackstone Secured Lending Fund in the 3rd quarter worth about $29,000. Beacon Capital Management LLC increased its position in shares of Blackstone Secured Lending Fund by 200.0% during the fourth quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter valued at about $31,000. CKW Financial Group purchased a new position in Blackstone Secured Lending Fund in the 4th quarter worth approximately $32,000. Finally, Blue Trust Inc. raised its holdings in shares of Blackstone Secured Lending Fund by 1,466.7% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $36,000 after acquiring an additional 1,100 shares during the period. 36.49% of the stock is owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Company Profile

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).