By otakuyassine3@gmail.com 
Blackstone (NYSE:BX – Get Free Report) had its price objective hoisted by stock analysts at Piper Sandler from $168.00 to $179.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price target would indicate a potential upside of 4.78% from the stock’s current price.
Several other equities research analysts have also recently commented on BX. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Evercore ISI boosted their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on Blackstone from $169.00 to $175.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Citigroup upped their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $171.00.
View Our Latest Stock Report on BX
Blackstone Stock Performance
Shares of NYSE:BX opened at $170.84 on Monday. Blackstone has a 12-month low of $114.88 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $178.82 and its two-hundred day moving average price is $151.37. The firm has a market cap of $123.35 billion, a PE ratio of 58.71, a PEG ratio of 1.63 and a beta of 1.51.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Equities research analysts predict that Blackstone will post 4.43 earnings per share for the current year.
Insider Activity
In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on 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 $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Glen Eagle Advisors LLC raised its holdings in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC grew its holdings in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.
About Blackstone
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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