Wells Fargo & Company Forecasts Strong Price Appreciation for Blackstone Secured Lending Fund (NYSE:BXSL) Stock

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

Separately, Compass Point decreased their price objective on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.88.

Blackstone Secured Lending Fund Stock Up 0.6 %

NYSE BXSL opened at $33.07 on Wednesday. The stock’s 50-day simple moving average is $32.28 and its two-hundred day simple moving average is $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 price-to-earnings 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 bought and sold shares of the stock. Signaturefd LLC bought a new position in shares of Blackstone Secured Lending Fund in the third quarter worth approximately $29,000. Beacon Capital Management LLC boosted its position in Blackstone Secured Lending Fund by 200.0% during the 4th quarter. Beacon Capital Management LLC now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 600 shares during the period. MassMutual Private Wealth & Trust FSB bought a new stake in Blackstone Secured Lending Fund in the 4th quarter worth $31,000. CKW Financial Group purchased a new position in shares of Blackstone Secured Lending Fund in the fourth quarter valued at about $32,000. Finally, Blue Trust Inc. raised its stake in shares of Blackstone Secured Lending Fund by 1,466.7% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the last quarter. 36.49% of the stock is 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).