Glacier Peak Capital LLC acquired a new position in shares of Blackstone Group LP (NYSE:BX) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 90,000 shares of the asset manager’s stock, valued at approximately $2,876,000. Blackstone Group makes up about 1.7% of Glacier Peak Capital LLC’s investment portfolio, making the stock its 27th biggest position.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Neuberger Berman Group LLC lifted its stake in shares of Blackstone Group by 166.1% in the first quarter. Neuberger Berman Group LLC now owns 5,737,885 shares of the asset manager’s stock worth $183,325,000 after acquiring an additional 3,581,736 shares in the last quarter. Natixis raised its stake in Blackstone Group by 43,717.6% during the first quarter. Natixis now owns 3,350,295 shares of the asset manager’s stock valued at $105,853,000 after buying an additional 3,342,649 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Blackstone Group by 165.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,535,792 shares of the asset manager’s stock valued at $113,216,000 after buying an additional 2,202,719 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Blackstone Group by 2,407.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,579,492 shares of the asset manager’s stock valued at $50,575,000 after buying an additional 1,516,492 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Blackstone Group by 11.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,119,617 shares of the asset manager’s stock valued at $451,123,000 after buying an additional 1,477,246 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.
BX has been the topic of several research reports. UBS Group initiated coverage on Blackstone Group in a research note on Tuesday, March 27th. They set a “market perform” rating on the stock. ValuEngine cut Blackstone Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. Finally, Morgan Stanley upped their target price on Blackstone Group from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.77.
Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, April 19th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.19. Blackstone Group had a return on equity of 23.94% and a net margin of 19.82%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. analysts predict that Blackstone Group LP will post 2.88 EPS for the current fiscal year.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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