JPMorgan Chase & Co. Issues Positive Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $33.00 to $33.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 0.34% from the stock's previous close.

BXSL has been the topic of several other research reports. Compass Point cut their price target 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 upped their target price on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $32.13.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE:BXSL traded down $0.11 during mid-day trading on Monday, hitting $33.39. 783,638 shares of the company traded hands, compared to its average volume of 1,075,085. The firm's 50 day simple moving average is $32.41 and its 200 day simple moving average is $31.08. The firm has a market cap of $7.47 billion, a P/E ratio of 9.27 and a beta of 0.43. Blackstone Secured Lending Fund has a 52-week low of $27.76 and a 52-week high of $33.80.

Institutional Trading of Blackstone Secured Lending Fund

Hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC lifted its stake in shares of Blackstone Secured Lending Fund by 2,548.0% in the fourth quarter. Proficio Capital Partners LLC now owns 11,032,118 shares of the company's stock worth $356,448,000 after buying an additional 10,615,491 shares during the last quarter. CCLA Investment Management acquired a new position in Blackstone Secured Lending Fund during the 4th quarter worth $67,323,000. Van ECK Associates Corp increased its position in Blackstone Secured Lending Fund by 57.7% in the 4th quarter. Van ECK Associates Corp now owns 5,563,231 shares of the company's stock worth $179,748,000 after buying an additional 2,035,623 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Blackstone Secured Lending Fund during the fourth quarter worth approximately $21,255,000. Finally, Border to Coast Pensions Partnership Ltd bought a new stake in shares of Blackstone Secured Lending Fund in the third quarter valued at approximately $7,301,000. 36.49% of the stock is owned by hedge funds and other institutional investors.

Blackstone Secured Lending Fund Company Profile

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).