OppenheimerFunds Inc. lessened its stake in Blackstone Group LP (NYSE:BX) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 634,900 shares of the asset manager’s stock after selling 30,000 shares during the quarter. OppenheimerFunds Inc.’s holdings in Blackstone Group were worth $22,202,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in BX. Sound Income Strategies LLC lifted its holdings in shares of Blackstone Group by 69.4% during the 1st quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 300 shares in the last quarter. Whitener Capital Management Inc. lifted its holdings in shares of Blackstone Group by 8.8% during the 1st quarter. Whitener Capital Management Inc. now owns 3,777 shares of the asset manager’s stock valued at $132,000 after acquiring an additional 306 shares in the last quarter. JOYN Advisors Inc. lifted its holdings in shares of Blackstone Group by 4.5% during the 4th quarter. JOYN Advisors Inc. now owns 7,652 shares of the asset manager’s stock valued at $228,000 after acquiring an additional 329 shares in the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Blackstone Group by 3.3% during the 1st quarter. M&R Capital Management Inc. now owns 12,570 shares of the asset manager’s stock valued at $505,000 after acquiring an additional 400 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Blackstone Group by 33.3% during the 4th quarter. 1832 Asset Management L.P. now owns 2,000 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 47.32% of the company’s stock.
BX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Blackstone Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 3rd. Morgan Stanley boosted their price objective on shares of Blackstone Group from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.71.
In other news, Director Bennett J. Goodman sold 115,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total value of $4,551,700.00. Following the completion of the sale, the director now owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone III bought 26,823 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $24.50 per share, with a total value of $657,163.50. The disclosure for this purchase can be found here. Insiders acquired a total of 1,144,688 shares of company stock worth $27,579,009 in the last quarter. 1.00% of the stock is currently owned by company insiders.
Shares of BX stock opened at $43.95 on Friday. Blackstone Group LP has a 12 month low of $26.88 and a 12 month high of $44.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $28.30 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.93 and a beta of 1.41.
Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). Blackstone Group had a return on equity of 12.79% and a net margin of 23.35%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Blackstone Group LP will post 2.36 EPS for the current fiscal year.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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