Blackstone Secured Lending Fund (NYSE:BXSL) Reaches New 12-Month High – Should You Buy?

Blackstone Secured Lending Fund (NYSE:BXSL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.80 and last traded at $33.64, with a volume of 399019 shares changing hands. The stock had previously closed at $33.40.

Wall Street Analysts Forecast Growth

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

Blackstone Secured Lending Fund Stock Up 1.2 %

The business’s fifty day moving average price is $32.48 and its 200 day moving average price is $31.15. The firm has a market capitalization of $7.56 billion, a PE ratio of 9.39 and a beta of 0.43.

Institutional Trading of Blackstone Secured Lending Fund

Hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in shares of Blackstone Secured Lending Fund by 2,548.0% in the 4th quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company’s stock valued at $356,448,000 after purchasing an additional 10,615,491 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Blackstone Secured Lending Fund by 57.7% during the 4th quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company’s stock worth $179,748,000 after purchasing an additional 2,035,623 shares during the last quarter. Northeast Financial Consultants Inc lifted its stake in Blackstone Secured Lending Fund by 12.5% in the 3rd quarter. Northeast Financial Consultants Inc now owns 2,096,848 shares of the company’s stock valued at $61,417,000 after buying an additional 232,379 shares in the last quarter. CCLA Investment Management acquired a new stake in Blackstone Secured Lending Fund during the 4th quarter valued at $67,323,000. Finally, HighTower Advisors LLC increased its position in Blackstone Secured Lending Fund by 6.8% during the fourth quarter. HighTower Advisors LLC now owns 1,201,710 shares of the company’s stock worth $38,827,000 after buying an additional 76,182 shares in the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

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).