JPMorgan Chase & Co. Has Lowered Expectations for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $24.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.84% from the company’s current price.

Other analysts also recently issued reports about the company. Royal Bank Of Canada lowered their price objective on Blackstone Secured Lending Fund from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Keefe, Bruyette & Woods downgraded Blackstone Secured Lending Fund from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $25.00 to $24.00 in a report on Monday, June 8th. UBS Group lowered their price target on Blackstone Secured Lending Fund from $24.75 to $24.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. B. Riley Financial dropped their price objective on Blackstone Secured Lending Fund from $24.50 to $23.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Finally, Truist Financial cut their price objective 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. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.75.

Blackstone Secured Lending Fund Price Performance

NYSE:BXSL opened at $23.92 on Thursday. The firm has a 50-day moving average of $23.84 and a 200-day moving average of $24.69. The company has a market cap of $5.56 billion, a PE ratio of 12.52 and a beta of 0.37. Blackstone Secured Lending Fund has a one year low of $22.47 and a one year high of $32.81.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $254.64 million for the quarter, compared to analysts’ expectations of $353.15 million. Blackstone Secured Lending Fund had a net margin of 31.63% and a return on equity of 11.73%. On average, equities research analysts expect that Blackstone Secured Lending Fund will post 2.76 earnings per share for the current fiscal year.

Insider Activity at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, insider Robert J. Bass purchased 2,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $23.80 per share, with a total value of $49,861.00. Following the completion of the transaction, the insider owned 25,107 shares of the company’s stock, valued at $597,546.60. The trade was a 9.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. grew its stake in Blackstone Secured Lending Fund by 135.1% in the 4th quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $26,000 after purchasing an additional 574 shares during the period. Osterweis Capital Management Inc. bought a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth $33,000. Hilton Head Capital Partners LLC bought a new stake in shares of Blackstone Secured Lending Fund during the 4th quarter worth $34,000. Quantum Portfolio Management LLC purchased a new position in shares of Blackstone Secured Lending Fund in the 1st quarter worth about $38,000. Finally, SHP Wealth Management purchased a new position in shares of Blackstone Secured Lending Fund in the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

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.