Short-term interest in Blackstone Secured Lending Fund (NYSE:BXSL) rises 18.6%

The Blackstone Secured Lending Fund (NYSE:BXSL – Get Rating) was the target of significant short-term interest growth during the month of September. As of September 15, there was short interest totaling 389,200 shares, a growth of 18.6% from the total of 328,100 shares as of August 31. Based on an average daily volume of 698,900 shares, the short interest ratio is currently 0.6 days. Currently, 0.3% of the company’s shares are sold short.

Insider Trading at Blackstone Secured Lending Fund

In other Blackstone Secured Lending Fund news, CEO Brad Marshall purchased 40,000 shares of the company in a trade on Thursday, September 15. The shares were purchased at an average price of $24.98 per share, with a total value of $999,200.00. Following the completion of the acquisition, the CEO now directly owns 161,284 shares of the company, valued at approximately $4,028,874.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Company insiders own 0.09% of the company’s shares.

Blackstone Secured Lending Fund Institutional Trading

A number of institutional investors and hedge funds have recently increased or reduced their holdings in BXSL. RVW Wealth LLC purchased a new stake in Blackstone Secured Lending Fund in the first quarter, valued at approximately $276,000. Shikiar Asset Management Inc. acquired a new position in Blackstone Secured Lending Fund in the first quarter worth approximately $987,000. Pinnacle Bancorp Inc. acquired a new position in the Blackstone Secured Lending Fund in the first quarter worth approximately $28,000. Transcend Capital Advisors LLC acquired a new position in Blackstone Secured Lending Fund in the first quarter, valued at approximately $463,000. Finally, Destiny Wealth Partners LLC acquired a new position in Blackstone Secured Lending Fund in the first quarter, valued at approximately $4,929,000. Institutional investors hold 21.96% of the company’s shares.

Analyst upgrades and downgrades

Separately, Compass Point raised its price target on shares of Blackstone Secured Lending Fund to $27.50 in a Monday, August 15 research note. Four equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

Blackstone secured loan fund trades down 1.4%

BXSL lost $0.32 in Friday trading, hitting $22.74. The stock had a trading volume of 583,481 shares, compared to an average volume of 629,782. The company has a market capitalization of $3.76 billion and a PE ratio of 8.85. Blackstone Secured Lending Fund has a 12 month minimum of $22.00 and a 12 month maximum of $38.32. The company has a 50-day simple moving average of $24.09 and a 200-day simple moving average of $25.20.

The Blackstone Secured Lending Fund (NYSE:BXSL – Get Rating) last released its quarterly earnings data on Thursday, August 11. The company reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.59 by $0.03. The Blackstone Secured Lending Fund had a net margin of 57.20% and a return on equity of 9.36%. The company posted revenue of $186.99 million for the quarter, versus a consensus estimate of $182.76 million. As a group, sell-side analysts expect the Blackstone Secured Lending Fund to post earnings per share of 2.6 for the current fiscal year.

Blackstone Secured Lending Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 14. Investors of record on Friday, September 30 will receive a dividend of $0.20. The ex-date of this dividend is Thursday, September 29. This represents a dividend of $0.80 on an annualized basis and a yield of 3.52%. The Blackstone Secured Lending Fund’s payout ratio is currently 93.39%.

About the Blackstone Secured Loan Fund

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Blackstone Secured Lending Fund is a Delaware business development corporation and statutory trust established on March 26, 2018 and structured as an externally managed non-diversified closed-end investment fund. On 26 October 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Companies Act 1940, as amended (the 1940 Act).

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