Blackstone Secured Lending Fund (NYSE:BXSL) Sets New 52-Week High – Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $34.52 and last traded at $34.52, with a volume of 205486 shares traded. The stock had previously closed at $33.88.

Analyst Ratings Changes

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

Blackstone Secured Lending Fund Price Performance

The firm has a market cap of $7.71 billion, a PE ratio of 9.57 and a beta of 0.43. The business has a fifty day moving average price of $32.75 and a two-hundred day moving average price of $31.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. grew its holdings in shares of Blackstone Secured Lending Fund by 6.9% during the fourth quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock valued at $1,748,000 after buying an additional 3,404 shares in the last quarter. Two Sigma Investments LP grew its stake in Blackstone Secured Lending Fund by 16.1% in the fourth quarter. Two Sigma Investments LP now owns 209,662 shares of the company’s stock valued at $6,774,000 after purchasing an additional 29,115 shares in the last quarter. Tidal Investments LLC grew its stake in Blackstone Secured Lending Fund by 2.3% in the fourth quarter. Tidal Investments LLC now owns 14,280 shares of the company’s stock valued at $461,000 after purchasing an additional 320 shares in the last quarter. Royal Bank of Canada grew its stake in Blackstone Secured Lending Fund by 11.0% in the fourth quarter. Royal Bank of Canada now owns 1,533,485 shares of the company’s stock valued at $49,548,000 after purchasing an additional 151,633 shares in the last quarter. Finally, Progeny 3 Inc. purchased a new position in Blackstone Secured Lending Fund in the fourth quarter valued at about $24,345,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

About Blackstone Secured Lending Fund

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).