Blackstone Inc. (NYSE:BX – Get Free Report) major shareholder Holdings L.P. Blackstone sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $19.00, for a total value of $475,000.00. Following the transaction, the insider directly owned 125,000 shares of the company’s stock, valued at $2,375,000. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Blackstone Price Performance
Shares of Blackstone stock traded up $1.46 during trading on Tuesday, reaching $122.86. 3,956,588 shares of the company’s stock were exchanged, compared to its average volume of 6,149,746. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a market cap of $91.27 billion, a P/E ratio of 31.42, a PEG ratio of 1.32 and a beta of 1.63. The firm’s 50-day moving average price is $116.50 and its 200 day moving average price is $135.63.
Blackstone (NYSE:BX – Get Free Report) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 EPS. As a group, research analysts anticipate that Blackstone Inc. will post 5.91 earnings per share for the current year.
Blackstone Cuts Dividend
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Piper Sandler lifted their price objective on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Morgan Stanley decreased their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. HSBC reduced their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Finally, BNP Paribas Exane dropped their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $151.36.
Check Out Our Latest Stock Report on Blackstone
Hedge Funds Weigh In On Blackstone
Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares in the last quarter. United Bank grew its stake in Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after acquiring an additional 1,729 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Blackstone during the second quarter worth approximately $1,124,000. Finally, Sei Investments Co. boosted its holdings in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after purchasing an additional 8,655 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.
About Blackstone
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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