StockNews.com Upgrades Blackstone (NYSE:BX) to “Buy”

Blackstone (NYSE:BXGet Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

BX has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $169.56.

View Our Latest Report on Blackstone

Blackstone Stock Performance

Shares of NYSE:BX opened at $182.70 on Tuesday. Blackstone has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $131.91 billion, a price-to-earnings ratio of 62.78, a P/E/G ratio of 1.20 and a beta of 1.53. The firm’s 50 day simple moving average is $180.68 and its 200 day simple moving average is $159.55.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Blackstone

Several hedge funds and other institutional investors have recently made changes to their positions in BX. American Century Companies Inc. increased its stake in shares of Blackstone by 3.5% in the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after buying an additional 2,002 shares during the period. AE Wealth Management LLC raised its holdings in Blackstone by 100.5% during the 2nd quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock worth $1,253,000 after purchasing an additional 5,072 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Blackstone by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock valued at $6,313,000 after purchasing an additional 2,206 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after buying an additional 1,036 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in Blackstone by 3.8% during the second quarter. ProShare Advisors LLC now owns 160,486 shares of the asset manager’s stock valued at $19,868,000 after acquiring an additional 5,854 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Company Profile

(Get Free Report)

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

Further Reading

Analyst Recommendations for Blackstone (NYSE:BX)

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