Blackstone Secured Lending Fund (NYSE:BXSL) Receives Consensus “Moderate Buy” Recommendation from Analysts

Secured loan fund Blackstone (NYSE:BXSL – Get Rating) has been assigned a consensus “moderate buy” recommendation by the nine analysts who cover the company, MarketBeat reports. Four equity research analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average price target among brokerages that have covered the stock over the past year is $29.56.

Separately, Compass Point raised its target price on shares of Blackstone Secured Lending Fund to $27.50 in a Monday, August 15 report.

Shares of Blackstone secured loan fund down 1.2%

NYSE:BXSL opened at $24.69 on Friday. Blackstone Secured Lending Fund has a fifty-two week minimum of $22.00 and a fifty-two week maximum of $38.32. The stock has a market capitalization of $4.08 billion and a PE ratio of 9.61. The company’s fifty-day simple moving average is $23.90 and its 200-day simple moving average is $25.51.

Insider buying and selling

Separately, CEO Brad Marshall purchased 40,000 shares of Blackstone Secured Lending Fund in a trade dated Thursday, September 15. The shares were acquired at an average cost of $24.98 per share, for a total transaction of $999,200.00. Following the acquisition, the CEO now directly owns 161,284 shares of the company, valued at $4,028,874.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the shares are held by insiders.

Hedge funds weigh on Blackstone Secured Lending Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Blackstone Secured Lending Fund during the first quarter at a value of $209,000. Avestar Capital LLC purchased a new stake in Blackstone Secured Lending Fund in the first quarter, valued at approximately $309,000. Allworth Financial LP bought a new stake in Blackstone Secured Lending Fund in the first quarter, valued at around $242,000. Lindbrook Capital LLC bought a new stake in Blackstone Secured Lending Fund in the first quarter, valued at around $69,000. Finally, Leavell Investment Management Inc. increased its holdings in Blackstone Secured Lending Fund by 45.7% in the first quarter. Leavell Investment Management Inc. now owns 66,403 shares of the company valued at $1,918,000 after purchasing an additional 20,828 shares in the last quarter. Institutional investors and hedge funds hold 21.96% of the company’s shares.

About the Blackstone Secured Loan Fund

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Blackstone Secured Lending Fund is a Delaware business development corporation and statutory trust established on March 26, 2018 and structured as an externally managed non-diversified closed-end investment fund. On 26 October 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Companies Act 1940, as amended (the 1940 Act).

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Analyst Recommendations for Blackstone Secured Lending Fund (NYSE: BXSL)

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