B. Riley Cuts Blackstone Secured Lending Fund (NYSE:BXSL) Price Target to $30.00

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price cut by equities researchers at B. Riley from $32.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 11.99% from the company’s current price.

BXSL has been the topic of several other research reports. Zacks Research upgraded shares of Blackstone Secured Lending Fund from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. 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 research note on Wednesday, October 1st. Royal Bank Of Canada dropped their price target on Blackstone Secured Lending Fund from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone Secured Lending Fund from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, UBS Group cut their target price on shares of Blackstone Secured Lending Fund from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average price target of $29.78.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE BXSL traded up $0.14 during mid-day trading on Wednesday, hitting $26.79. The stock had a trading volume of 39,258 shares, compared to its average volume of 1,367,266. The business has a 50 day moving average price of $26.97 and a two-hundred day moving average price of $29.58. Blackstone Secured Lending Fund has a 1 year low of $24.85 and a 1 year high of $34.64. The firm has a market cap of $6.17 billion, a P/E ratio of 10.07 and a beta of 0.42.

Blackstone Secured Lending Fund (NYSE:BXSL) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. The business had revenue of $358.56 million during the quarter, compared to analyst estimates of $353.55 million. Blackstone Secured Lending Fund had a net margin of 42.38% and a return on equity of 11.89%. Equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 EPS for the current fiscal year.

Insider Transactions at Blackstone Secured Lending Fund

In other news, insider Robert J. Bass acquired 3,760 shares of the business’s stock in a transaction on Monday, October 6th. The shares were acquired at an average price of $26.63 per share, for a total transaction of $100,128.80. Following the completion of the transaction, the insider directly owned 21,167 shares of the company’s stock, valued at approximately $563,677.21. The trade was a 21.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its position in shares of Blackstone Secured Lending Fund by 5.0% during the first quarter. Chicago Partners Investment Group LLC now owns 7,487 shares of the company’s stock worth $222,000 after purchasing an additional 357 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Blackstone Secured Lending Fund by 45.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,270 shares of the company’s stock valued at $41,000 after buying an additional 395 shares in the last quarter. FLC Capital Advisors boosted its position in Blackstone Secured Lending Fund by 2.8% in the 2nd quarter. FLC Capital Advisors now owns 14,715 shares of the company’s stock valued at $452,000 after buying an additional 405 shares during the period. Aviso Wealth Management increased its position in shares of Blackstone Secured Lending Fund by 1.1% during the first quarter. Aviso Wealth Management now owns 39,492 shares of the company’s stock worth $1,278,000 after acquiring an additional 423 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Blackstone Secured Lending Fund by 5.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 7,704 shares of the company’s stock valued at $201,000 after acquiring an additional 430 shares in the last quarter. 36.49% of the stock is currently owned by hedge funds and other institutional investors.

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).