Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 12-Month High – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts recently issued reports on BXSL shares. JPMorgan Chase & Co. boosted their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price target 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. Finally, Compass Point reduced their price target on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.13.

Blackstone Secured Lending Fund Stock Up 1.5 %

The firm has a market cap of $7.69 billion, a PE ratio of 9.55 and a beta of 0.43. The stock’s fifty day simple moving average is $32.66 and its two-hundred day simple moving average is $31.27.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its stake in shares of Blackstone Secured Lending Fund by 6.9% in the fourth quarter. Sunbelt Securities Inc. now owns 52,846 shares of the company’s stock worth $1,748,000 after buying an additional 3,404 shares in the last quarter. Two Sigma Investments LP lifted its position in Blackstone Secured Lending Fund by 16.1% during 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 during the period. Tidal Investments LLC lifted its position in Blackstone Secured Lending Fund by 2.3% during 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 during the period. Royal Bank of Canada lifted its position in Blackstone Secured Lending Fund by 11.0% during 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 during the period. Finally, Progeny 3 Inc. bought a new position in Blackstone Secured Lending Fund during the fourth quarter valued at approximately $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).