B. Riley Financial Issues Pessimistic Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price lowered by equities research analysts at B. Riley Financial from $23.50 to $22.50 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley Financial‘s price target would suggest a potential downside of 6.97% from the stock’s previous close.

Several other equities research analysts also recently commented on BXSL. Oppenheimer assumed coverage on shares of Blackstone Secured Lending Fund in a research report on Thursday, July 23rd. They set a “market perform” rating and a $25.00 target price for the company. Citizens Jmp assumed coverage on shares of Blackstone Secured Lending Fund in a research report on Monday, October 26th. They issued a “market perform” rating on the stock. Citigroup started coverage on Blackstone Secured Lending Fund in a research note on Monday, October 26th. They set a “market perform” rating for the company. Zacks Research raised Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.72.

Blackstone Secured Lending Fund Trading Up 1.0%

Shares of BXSL traded up $0.24 during trading hours on Tuesday, reaching $24.18. The stock had a trading volume of 732,043 shares, compared to its average volume of 2,027,453. Blackstone Secured Lending Fund has a 12 month low of $22.47 and a 12 month high of $28.59. The firm has a 50-day simple moving average of $24.10 and a 200 day simple moving average of $24.09. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 20.15 and a beta of 0.39.

Blackstone Secured Lending Fund (NYSE:BXSL) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Blackstone Secured Lending Fund had a net margin of 21.03% and a return on equity of 11.44%. The business had revenue of $315.18 million during the quarter, compared to analyst estimates of $317.81 million. On average, equities analysts forecast that Blackstone Secured Lending Fund will post 2.87 EPS for the current year.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cooper Financial Group boosted its stake in Blackstone Secured Lending Fund by 5.6% during the 2nd quarter. Cooper Financial Group now owns 9,494 shares of the company’s stock valued at $225,000 after purchasing an additional 507 shares during the last quarter. Summit Global Investments increased its holdings in shares of Blackstone Secured Lending Fund by 2.0% in the 1st quarter. Summit Global Investments now owns 31,272 shares of the company’s stock worth $741,000 after purchasing an additional 612 shares in the last quarter. Werba Rubin Papier Wealth Management raised its stake in shares of Blackstone Secured Lending Fund by 3.3% in the third quarter. Werba Rubin Papier Wealth Management now owns 30,111 shares of the company’s stock worth $722,000 after purchasing an additional 961 shares during the last quarter. MGO One Seven LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 9.4% during the third quarter. MGO One Seven LLC now owns 11,587 shares of the company’s stock valued at $278,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Stronghold Wealth Management L.L.C. lifted its holdings in shares of Blackstone Secured Lending Fund by 1.4% during the third quarter. Stronghold Wealth Management L.L.C. now owns 82,218 shares of the company’s stock valued at $1,972,000 after purchasing an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 36.49% of the company’s stock.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund is a business development company (BDC) that provides financing to private businesses. Its investment portfolio focuses primarily on senior secured, floating-rate loans, particularly first-lien debt, to established middle-market companies. The fund may also invest in second-lien loans, unsecured debt and equity securities. Its investments span a range of industries, and its lending activity is focused mainly on companies in the United States. Formed in 2018, Blackstone Secured Lending Fund is externally managed by Blackstone Credit & Insurance, part of Blackstone.