Core Alternative Capital Sells 17,106 Shares of Blackstone Inc. $BX

Core Alternative Capital cut its holdings in Blackstone Inc. (NYSE:BX) by 95.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 893 shares of the asset manager’s stock after selling 17,106 shares during the period. Core Alternative Capital’s holdings in Blackstone were worth $153,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BX. BMO Capital Markets lowered their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, January 21st. HSBC decreased their price target on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Bank of America reduced their target price on shares of Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Finally, Evercore ISI cut their price target on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Nine research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.25.

Blackstone Trading Down 1.0%

Shares of NYSE BX opened at $148.57 on Wednesday. The firm has a market cap of $109.71 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The business has a fifty day simple moving average of $152.79 and a two-hundred day simple moving average of $161.18.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 324 shares of Blackstone stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $146.92 per share, with a total value of $47,602.08. Following the transaction, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. The trade was a 0.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Breyer purchased 13,900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the acquisition, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This represents a 25.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 783,978 shares of company stock worth $22,058,454 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone Profile

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.