Oppenheimer Begins Coverage on Blackstone Secured Lending Fund (NYSE:BXSL)

Research analysts at Oppenheimer started coverage on shares of Blackstone Secured Lending Fund (NYSE:BXSL) in a research note issued to investors on Thursday. The brokerage set a “market perform” rating on the stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced 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 note on Thursday, July 2nd. Truist Financial cut their target price on shares of Blackstone Secured Lending Fund from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Zacks Research downgraded shares of Blackstone Secured Lending Fund from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. B. Riley Financial decreased their price target on shares of Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods downgraded shares of Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Blackstone Secured Lending Fund presently has an average rating of “Hold” and an average target price of $24.75.

Blackstone Secured Lending Fund Stock Performance

BXSL opened at $23.25 on Thursday. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $32.81. The stock has a market capitalization of $5.41 billion, a P/E ratio of 12.17 and a beta of 0.37. The business’s 50-day simple moving average is $23.66 and its 200-day simple moving average is $24.29.

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

Insider Activity

In related news, insider Robert J. Bass bought 2,095 shares of the company’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 acquisition, the insider owned 25,107 shares in the company, valued at approximately $597,546.60. This trade represents a 9.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of BXSL. Allied Private Wealth LLC acquired a new position in Blackstone Secured Lending Fund in the 2nd quarter valued at $32,000. FNY Investment Advisers LLC acquired a new stake in shares of Blackstone Secured Lending Fund in the 2nd quarter worth $33,000. Osterweis Capital Management Inc. acquired a new stake in shares of Blackstone Secured Lending Fund in the 4th quarter worth $33,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the fourth quarter valued at about $34,000. Finally, Quantum Portfolio Management LLC purchased a new stake in shares of Blackstone Secured Lending Fund in the first quarter valued at about $38,000. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

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.