Blackstone Inc. $BX Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its holdings in Blackstone Inc. (NYSE:BX) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 37,408 shares of the asset manager’s stock after selling 3,676 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Blackstone were worth $6,391,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Traub Capital Management LLC acquired a new position in shares of Blackstone in the second quarter worth about $27,000. Family CFO Inc acquired a new position in Blackstone during the 2nd quarter worth $28,000. Parvin Asset Management LLC bought a new position in Blackstone during the 2nd quarter worth approximately $35,000. Rexford Capital Inc. bought a new stake in shares of Blackstone in the 2nd quarter valued at approximately $35,000. Finally, RMG Wealth Management LLC bought a new position in Blackstone during the second quarter worth $40,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $150.47 on Monday. The stock’s fifty day simple moving average is $152.31 and its 200-day simple moving average is $161.38. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $111.11 billion, a price-to-earnings ratio of 42.99, a P/E/G ratio of 1.06 and a beta of 1.75. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The firm’s revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on BX shares. The Goldman Sachs Group upped their price target on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a research report on Friday, October 24th. TD Cowen cut their price objective on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday. Finally, UBS Group decreased their target price on Blackstone from $175.00 to $172.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.25.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 324 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the purchase, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This trade represents a 25.27% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 797,148 shares of company stock worth $24,050,153. Company insiders own 1.00% of the company’s stock.

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.