Glacier Peak Capital LLC purchased a new stake in shares of Blackstone Group LP (NYSE:BX) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 90,000 shares of the asset manager’s stock, valued at approximately $2,876,000. Blackstone Group makes up approximately 1.7% of Glacier Peak Capital LLC’s investment portfolio, making the stock its 27th biggest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Centaurus Financial Inc. acquired a new stake in shares of Blackstone Group during the 1st quarter valued at $119,000. AlphaMark Advisors LLC acquired a new stake in shares of Blackstone Group during the 1st quarter valued at $141,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Blackstone Group during the 1st quarter valued at $142,000. Archford Capital Strategies LLC acquired a new stake in shares of Blackstone Group during the 1st quarter valued at $147,000. Finally, KHP Capital LLC acquired a new stake in shares of Blackstone Group during the 1st quarter valued at $159,000. 49.52% of the stock is owned by hedge funds and other institutional investors.
Shares of BX traded up $0.26 during mid-day trading on Thursday, reaching $33.30. The company’s stock had a trading volume of 2,215 shares, compared to its average volume of 5,109,048. The firm has a market capitalization of $21.76 billion, a P/E ratio of 11.85, a PEG ratio of 1.16 and a beta of 1.35. Blackstone Group LP has a 1 year low of $29.57 and a 1 year high of $37.52. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.71.
Blackstone Group (NYSE:BX) last released its earnings results on Thursday, April 19th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.19. Blackstone Group had a return on equity of 23.94% and a net margin of 19.82%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. analysts expect that Blackstone Group LP will post 2.88 earnings per share for the current fiscal year.
A number of brokerages have recently commented on BX. ValuEngine downgraded Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Morgan Stanley increased their price objective on Blackstone Group from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, April 23rd. Finally, UBS Group began coverage on Blackstone Group in a report on Tuesday, March 27th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Blackstone Group currently has an average rating of “Hold” and an average target price of $39.77.
About Blackstone Group
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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