Blackstone Group LP (NYSE:BX) insider Joan Solotar sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $53.83, for a total transaction of $1,345,750.00. Following the transaction, the insider now directly owns 235,803 shares in the company, valued at $12,693,275.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
NYSE:BX traded up $1.31 during mid-day trading on Friday, reaching $53.55. The stock had a trading volume of 10,163,477 shares, compared to its average volume of 5,016,075. The stock has a 50-day simple moving average of $48.54 and a two-hundred day simple moving average of $41.86. The stock has a market capitalization of $32.83 billion, a PE ratio of 23.69, a P/E/G ratio of 1.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.89. Blackstone Group LP has a 12 month low of $26.88 and a 12 month high of $54.19.
Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The firm’s quarterly revenue was down 43.5% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts expect that Blackstone Group LP will post 2.32 EPS for the current year.
Several research analysts have recently commented on BX shares. Oppenheimer set a $52.00 target price on shares of Blackstone Group and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank raised their target price on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Barclays started coverage on shares of Blackstone Group in a report on Monday, August 5th. They set an “overweight” rating and a $56.00 target price on the stock. Citigroup raised their target price on shares of Blackstone Group from $51.50 to $52.00 and gave the stock a “buy” rating in a report on Monday. Finally, JMP Securities cut shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Blackstone Group presently has a consensus rating of “Buy” and a consensus target price of $48.10.
Large investors have recently made changes to their positions in the stock. Cypress Capital Management LLC WY bought a new position in Blackstone Group in the second quarter valued at approximately $25,000. Resources Investment Advisors Inc. increased its stake in Blackstone Group by 606.0% in the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 606 shares during the last quarter. Coastal Capital Group Inc. bought a new position in Blackstone Group in the second quarter valued at approximately $35,000. Meridian Wealth Management LLC bought a new position in Blackstone Group in the first quarter valued at approximately $32,000. Finally, Centaurus Financial Inc. increased its stake in Blackstone Group by 194.0% in the first quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 683 shares during the last quarter. 47.20% of the stock is currently owned by institutional investors and hedge funds.
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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