Blackstone (NYSE:BX – Get Free Report) had its price target raised by stock analysts at BMO Capital Markets from $93.00 to $97.00 in a report released on Friday, MarketBeat Ratings reports. The firm presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ target price points to a potential downside of 7.52% from the company’s previous close.
Several other equities analysts have also commented on BX. Evercore ISI upped their price target on shares of Blackstone from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $102.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, April 21st. Credit Suisse Group decreased their price objective on Blackstone from $74.00 to $70.50 and set an “underperform” rating for the company in a report on Friday, April 21st. Barclays lifted their target price on Blackstone from $101.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley raised their price target on Blackstone from $116.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $110.47.
Blackstone Stock Performance
Blackstone stock opened at $104.89 on Friday. The company has a fifty day moving average price of $91.22 and a two-hundred day moving average price of $88.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.89 and a quick ratio of 0.89. Blackstone has a 12 month low of $71.72 and a 12 month high of $110.89. The company has a market cap of $74.06 billion, a PE ratio of 127.91, a P/E/G ratio of 1.85 and a beta of 1.49.
Insiders Place Their Bets
In other news, insider Multi-Asset Direct Blackstone sold 3,000,000 shares of Blackstone stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $8.50, for a total value of $25,500,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Altus Holdings Lp Gso acquired 15,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were purchased at an average price of $5.17 per share, for a total transaction of $77,550.00. Following the purchase, the insider now owns 20,790,125 shares in the company, valued at $107,484,946.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Multi-Asset Direct Blackstone sold 3,000,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $8.50, for a total transaction of $25,500,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 117,282 shares of company stock worth $646,274. Company insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tower Bridge Advisors raised its position in Blackstone by 12.0% during the first quarter. Tower Bridge Advisors now owns 17,324 shares of the asset manager’s stock valued at $1,522,000 after acquiring an additional 1,850 shares in the last quarter. Advisor OS LLC boosted its holdings in Blackstone by 7.0% in the first quarter. Advisor OS LLC now owns 8,666 shares of the asset manager’s stock worth $761,000 after purchasing an additional 568 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in Blackstone during the first quarter valued at about $240,000. Northside Capital Management LLC bought a new stake in shares of Blackstone during the 1st quarter worth about $202,000. Finally, Edge Capital Group LLC raised its stake in shares of Blackstone by 132.5% in the 4th quarter. Edge Capital Group LLC now owns 4,935 shares of the asset manager’s stock valued at $366,000 after acquiring an additional 2,812 shares in the last quarter. Hedge funds and other institutional investors own 63.65% 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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