Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 1-Year Low – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL) reached a new 52-week low during trading on Monday . The stock traded as low as $23.41 and last traded at $23.5550, with a volume of 1257145 shares. The stock had previously closed at $23.71.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BXSL shares. Wall Street Zen raised shares of Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods decreased their price target on Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Bank of America dropped their price objective on Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Wells Fargo & Company cut Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $26.00 to $24.00 in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada cut their price objective on shares of Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Blackstone Secured Lending Fund has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

Blackstone Secured Lending Fund Price Performance

The business’s 50-day moving average price is $26.06 and its 200-day moving average price is $27.11. The firm has a market capitalization of $5.44 billion, a PE ratio of 8.85 and a beta of 0.41.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Several hedge funds have recently made changes to their positions in BXSL. Armstrong Advisory Group Inc. raised its stake in Blackstone Secured Lending Fund by 135.1% during the 4th quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $26,000 after acquiring an additional 574 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Blackstone Secured Lending Fund in the fourth quarter valued at approximately $33,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Blackstone Secured Lending Fund during the fourth quarter worth approximately $34,000. Evolution Wealth Management Inc. acquired a new stake in shares of Blackstone Secured Lending Fund during the second quarter worth $37,000. Finally, Spire Wealth Management lifted its holdings in shares of Blackstone Secured Lending Fund by 109.6% during the second quarter. Spire Wealth Management now owns 1,467 shares of the company’s stock worth $45,000 after purchasing an additional 767 shares during the period. Institutional investors and hedge funds own 36.49% of the company’s stock.

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.