Blackstone Secured Lending Fund (NYSE:BXSL) Hits New 52-Week Low – Should You Sell?

Shares of Blackstone Secured Lending Fund (NYSE:BXSL) reached a new 52-week low during trading on Monday . The stock traded as low as $23.41 and last traded at $23.5550, with a volume of 1257145 shares changing hands. The stock had previously closed at $23.71.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Wells Fargo & Company lowered Blackstone Secured Lending Fund from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $26.00 to $24.00 in a research note on Wednesday, January 7th. Wall Street Zen upgraded Blackstone Secured Lending Fund from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley Financial dropped their price objective on Blackstone Secured Lending Fund from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Royal Bank Of Canada cut their price objective on Blackstone Secured Lending Fund from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Blackstone Secured Lending Fund Price Performance

The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 8.85 and a beta of 0.41. The stock has a 50 day moving average price of $26.06 and a 200-day moving average price of $27.11.

Institutional Investors Weigh In On Blackstone Secured Lending Fund

A number of hedge funds have recently modified their holdings of BXSL. Amplius Wealth Advisors LLC grew its stake in Blackstone Secured Lending Fund by 3.2% during the 2nd quarter. Amplius Wealth Advisors LLC now owns 528,412 shares of the company’s stock worth $16,249,000 after purchasing an additional 16,610 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Blackstone Secured Lending Fund by 112.6% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 26,195 shares of the company’s stock valued at $805,000 after buying an additional 13,875 shares during the period. Simon Quick Advisors LLC grew its position in shares of Blackstone Secured Lending Fund by 6.0% during the second quarter. Simon Quick Advisors LLC now owns 15,444 shares of the company’s stock worth $475,000 after buying an additional 872 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Blackstone Secured Lending Fund by 8.4% during the second quarter. Flagship Harbor Advisors LLC now owns 8,316 shares of the company’s stock worth $256,000 after buying an additional 644 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Blackstone Secured Lending Fund in the second quarter valued at approximately $1,125,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund (NYSE: BXSL) is a closed-end management investment company sponsored by Blackstone Credit, the credit-oriented business of Blackstone Inc Launched in May 2020, BXSL seeks to deliver attractive risk-adjusted returns primarily through current income and, to a lesser extent, capital appreciation. The fund raises capital from institutional and retail investors and deploys it into a diversified portfolio of senior secured loans and other credit instruments.

The fund’s principal investment focus is on first-lien senior secured loans and unitranche debt extended to middle-market companies across North America.