Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 12-Month High – Here’s What Happened

Blackstone Secured Lending Fund (NYSE:BXSL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $34.52 and last traded at $34.52, with a volume of 205486 shares changing hands. The stock had previously closed at $33.88.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Compass Point dropped their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.13.

Blackstone Secured Lending Fund Price Performance

The firm has a market capitalization of $7.69 billion, a P/E ratio of 9.55 and a beta of 0.43. The firm’s 50 day simple moving average is $32.66 and its two-hundred day simple moving average is $31.27.

Institutional Trading of Blackstone Secured Lending Fund

Several hedge funds have recently added to or reduced their stakes in BXSL. International Assets Investment Management LLC bought a new position in shares of Blackstone Secured Lending Fund during the third quarter valued at about $56,410,000. Raymond James & Associates raised its stake in shares of Blackstone Secured Lending Fund by 2.2% during the third quarter. Raymond James & Associates now owns 469,412 shares of the company’s stock valued at $13,749,000 after acquiring an additional 10,204 shares during the last quarter. Investment Partners Asset Management Inc. raised its stake in shares of Blackstone Secured Lending Fund by 1.8% during the third quarter. Investment Partners Asset Management Inc. now owns 18,305 shares of the company’s stock valued at $536,000 after acquiring an additional 332 shares during the last quarter. Kavar Capital Partners Group LLC bought a new position in shares of Blackstone Secured Lending Fund during the third quarter valued at about $1,184,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Blackstone Secured Lending Fund during the third quarter valued at about $225,000. 36.49% of the stock is owned by 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).