Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Blackstone Secured Lending Fund (NYSE:BXSL) had its target price raised by analysts at Wells Fargo & Company from $29.00 to $31.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 6.25% from the stock’s previous close.

Separately, Compass Point reduced their price objective on 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.88.

Blackstone Secured Lending Fund Stock Up 0.6 %

Blackstone Secured Lending Fund stock opened at $33.07 on Wednesday. The firm has a 50 day moving average price of $32.28 and a 200-day moving average price of $30.99. Blackstone Secured Lending Fund has a twelve month low of $27.76 and a twelve month high of $33.48. The company has a market capitalization of $7.40 billion, a P/E ratio of 9.18 and a beta of 0.42.

Hedge Funds Weigh In On Blackstone Secured Lending Fund

A number of large investors have recently made changes to their positions in BXSL. Destiny Wealth Partners LLC increased its holdings in Blackstone Secured Lending Fund by 6.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 367,988 shares of the company’s stock worth $10,778,000 after acquiring an additional 22,478 shares during the period. LaFleur & Godfrey LLC purchased a new position in shares of Blackstone Secured Lending Fund during the 3rd quarter valued at $2,337,000. Griffin Asset Management Inc. increased its holdings in shares of Blackstone Secured Lending Fund by 25.5% in the third quarter. Griffin Asset Management Inc. now owns 24,348 shares of the company’s stock worth $713,000 after purchasing an additional 4,952 shares during the period. Acorn Creek Capital LLC raised its position in shares of Blackstone Secured Lending Fund by 3.1% in the third quarter. Acorn Creek Capital LLC now owns 18,237 shares of the company’s stock worth $534,000 after buying an additional 545 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in Blackstone Secured Lending Fund by 13.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 26,265 shares of the company’s stock valued at $769,000 after buying an additional 3,039 shares during the period. 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).