Blackstone Inc. (NYSE:BX – Get Rating) major shareholder Tactical Opportunit Blackstone purchased 2,500,000 shares of the company’s stock in a transaction dated Friday, April 29th. The stock was purchased at an average cost of $4.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now owns 26,839,187 shares in the company, valued at $107,356,748. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Blackstone stock opened at $107.62 on Wednesday. Blackstone Inc. has a 52-week low of $83.75 and a 52-week high of $149.78. The company’s 50 day moving average is $118.03 and its two-hundred day moving average is $126.46. The firm has a market cap of $73.92 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.07 and a beta of 1.38. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.36.
Blackstone (NYSE:BX – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The asset manager reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.48. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the business earned $0.96 EPS. The company’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Blackstone Inc. will post 5.71 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Blackstone from a “sell” rating to a “hold” rating and set a $125.00 price objective on the stock in a report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Blackstone from $186.00 to $182.00 and set a “buy” rating on the stock in a report on Friday, April 22nd. BMO Capital Markets upped their price objective on shares of Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Wells Fargo & Company upped their price objective on shares of Blackstone from $120.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, April 22nd. Finally, StockNews.com assumed coverage on shares of Blackstone in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $139.73.
Several institutional investors and hedge funds have recently made changes to their positions in BX. Norges Bank purchased a new position in shares of Blackstone in the 4th quarter valued at $831,839,000. BlackRock Inc. grew its position in shares of Blackstone by 19.9% in the 4th quarter. BlackRock Inc. now owns 36,485,682 shares of the asset manager’s stock valued at $4,720,879,000 after buying an additional 6,049,041 shares during the last quarter. Morgan Stanley grew its position in shares of Blackstone by 9.0% in the 2nd quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after buying an additional 1,691,281 shares during the last quarter. GQG Partners LLC grew its position in shares of Blackstone by 30.2% in the 3rd quarter. GQG Partners LLC now owns 6,334,322 shares of the asset manager’s stock valued at $736,843,000 after buying an additional 1,471,093 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Blackstone by 8.1% in the 3rd quarter. Royal Bank of Canada now owns 17,924,375 shares of the asset manager’s stock valued at $2,085,321,000 after buying an additional 1,348,941 shares during the last quarter. Institutional investors and hedge funds own 63.68% of the company’s stock.
Blackstone Company Profile (Get Rating)
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.
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