By otakuyassine3@gmail.com 
Blackstone (NYSE:BX – Get Free Report) had its target price decreased by analysts at Wells Fargo & Company from $180.00 to $160.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 7.64% from the stock’s current price.
A number of other brokerages have also recently commented on BX. Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. BMO Capital Markets raised their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $171.13.
Blackstone Stock Performance
NYSE BX opened at $148.65 on Thursday. Blackstone has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a market capitalization of $108.43 billion, a P/E ratio of 40.95, a PEG ratio of 1.07 and a beta of 1.55. The business has a 50 day moving average price of $163.53 and a 200 day moving average price of $167.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.
Blackstone (NYSE:BX – Get Free Report) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts expect that Blackstone will post 5.87 EPS for the current fiscal year.
Insider Buying and Selling at Blackstone
In related news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. 111 Capital purchased a new position in Blackstone in the fourth quarter valued at about $762,000. Thoma Capital Management LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $800,000. NorthCrest Asset Manangement LLC increased its position in shares of Blackstone by 3.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 23,986 shares of the asset manager’s stock worth $4,136,000 after acquiring an additional 894 shares during the last quarter. Tableaux LLC acquired a new position in Blackstone in the fourth quarter worth about $304,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in Blackstone in the fourth quarter worth about $41,070,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
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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