Blackstone Secured Lending Fund (NYSE:BXSL) Given New $26.00 Price Target at Wells Fargo & Company

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price cut by investment analysts at Wells Fargo & Company from $28.00 to $26.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 2.28% from the stock’s previous close.

BXSL has been the topic of several other research reports. B. Riley began coverage on shares of Blackstone Secured Lending Fund in a research note on Thursday, September 25th. They set a “buy” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. UBS Group decreased their price objective on Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Zacks Research upgraded Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Keefe, Bruyette & Woods upgraded Blackstone Secured Lending Fund from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $31.00 to $30.00 in a research report on Monday, October 6th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.53.

Blackstone Secured Lending Fund Stock Performance

BXSL stock traded up $0.01 during trading on Tuesday, hitting $26.61. The stock had a trading volume of 156,258 shares, compared to its average volume of 1,367,144. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 9.35 and a beta of 0.42. The company’s 50 day moving average price is $27.03 and its two-hundred day moving average price is $29.60. Blackstone Secured Lending Fund has a 1-year low of $24.85 and a 1-year high of $34.64.

Insider Buying and Selling at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass bought 3,760 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was acquired at an average price of $26.63 per share, for a total transaction of $100,128.80. Following the acquisition, the insider owned 21,167 shares of the company’s stock, valued at $563,677.21. This trade represents a 21.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Blackstone Secured Lending Fund by 40.4% in the 1st quarter. Bank of New York Mellon Corp now owns 54,212 shares of the company’s stock valued at $1,754,000 after acquiring an additional 15,599 shares during the period. MQS Management LLC acquired a new stake in Blackstone Secured Lending Fund in the 1st quarter valued at $242,000. Bleakley Financial Group LLC raised its position in Blackstone Secured Lending Fund by 23.5% in the first quarter. Bleakley Financial Group LLC now owns 28,430 shares of the company’s stock valued at $920,000 after purchasing an additional 5,404 shares during the period. Sigma Planning Corp acquired a new position in shares of Blackstone Secured Lending Fund during the first quarter worth about $346,000. Finally, Apollon Wealth Management LLC boosted its position in shares of Blackstone Secured Lending Fund by 15.1% in the first quarter. Apollon Wealth Management LLC now owns 18,537 shares of the company’s stock worth $600,000 after buying an additional 2,430 shares during the period. 36.49% of the stock is currently 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).