Blackstone Secured Lending Fund (NYSE:BXSL) Posts Quarterly Earnings Results

Blackstone Secured Lending Fund (NYSE:BXSL) announced its quarterly earnings data on Monday. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02, Zacks reports. Blackstone Secured Lending Fund had a return on equity of 12.07% and a net margin of 44.25%.

Blackstone Secured Lending Fund Price Performance

BXSL traded up $0.27 during trading on Monday, hitting $26.76. The stock had a trading volume of 478,707 shares, compared to its average volume of 1,365,095. The company has a 50 day moving average price of $27.09 and a 200-day moving average price of $29.62. Blackstone Secured Lending Fund has a one year low of $24.85 and a one year high of $34.64. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 9.39 and a beta of 0.42.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of hedge funds have recently bought and sold shares of BXSL. Bank of America Corp DE raised its stake in Blackstone Secured Lending Fund by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 7,820,346 shares of the company’s stock worth $240,476,000 after purchasing an additional 832,179 shares in the last quarter. Northeast Financial Consultants Inc grew its position in shares of Blackstone Secured Lending Fund by 6.9% during the 2nd quarter. Northeast Financial Consultants Inc now owns 3,359,523 shares of the company’s stock worth $103,305,000 after purchasing an additional 216,835 shares in the last quarter. HRT Financial LP increased its holdings in shares of Blackstone Secured Lending Fund by 104.2% during the second quarter. HRT Financial LP now owns 384,423 shares of the company’s stock worth $11,821,000 after purchasing an additional 196,187 shares during the period. Snowden Capital Advisors LLC raised its position in shares of Blackstone Secured Lending Fund by 370.6% in the second quarter. Snowden Capital Advisors LLC now owns 234,313 shares of the company’s stock valued at $7,386,000 after buying an additional 184,520 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Blackstone Secured Lending Fund in the second quarter valued at approximately $2,122,000. 36.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. JPMorgan Chase & Co. lowered their price target on Blackstone Secured Lending Fund from $30.50 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods raised Blackstone Secured Lending Fund from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $31.00 to $30.00 in a research report on Monday, October 6th. B. Riley assumed coverage on Blackstone Secured Lending Fund in a report on Thursday, September 25th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.78.

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).