Joan Solotar Sells 25,000 Shares of Blackstone Group LP (NYSE:BX) Stock

Blackstone Group LP (NYSE:BX) insider Joan Solotar sold 25,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $53.83, for a total value of $1,345,750.00. Following the transaction, the insider now directly owns 235,803 shares in the company, valued at approximately $12,693,275.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of BX stock traded up $1.31 during trading hours on Friday, reaching $53.55. The company had a trading volume of 10,163,477 shares, compared to its average volume of 5,016,075. The company has a 50 day moving average of $48.54 and a 200 day moving average of $41.86. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $32.83 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.05 and a beta of 1.47. Blackstone Group LP has a 1-year low of $26.88 and a 1-year high of $54.19.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a return on equity of 11.30% and a net margin of 20.51%. The firm’s quarterly revenue was down 43.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, sell-side analysts forecast that Blackstone Group LP will post 2.32 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Belpointe Asset Management LLC increased its position in shares of Blackstone Group by 43.5% in the 1st quarter. Belpointe Asset Management LLC now owns 31,832 shares of the asset manager’s stock valued at $1,113,000 after buying an additional 9,645 shares in the last quarter. Hollencrest Capital Management increased its position in shares of Blackstone Group by 5.2% in the 1st quarter. Hollencrest Capital Management now owns 62,978 shares of the asset manager’s stock valued at $2,203,000 after buying an additional 3,096 shares in the last quarter. National Asset Management Inc. increased its position in shares of Blackstone Group by 15.7% in the 1st quarter. National Asset Management Inc. now owns 27,818 shares of the asset manager’s stock valued at $973,000 after buying an additional 3,775 shares in the last quarter. Meitav Dash Investments Ltd. bought a new stake in shares of Blackstone Group in the 1st quarter valued at $738,000. Finally, B. Riley Wealth Management Inc. increased its position in shares of Blackstone Group by 13.3% in the 1st quarter. B. Riley Wealth Management Inc. now owns 15,628 shares of the asset manager’s stock valued at $547,000 after buying an additional 1,840 shares in the last quarter. 47.20% of the stock is currently owned by institutional investors.

BX has been the topic of several research reports. Morgan Stanley upped their price objective on Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Citigroup upped their price objective on Blackstone Group from $51.50 to $52.00 and gave the stock a “buy” rating in a report on Monday. Oppenheimer set a $52.00 price objective on Blackstone Group and gave the stock a “buy” rating in a report on Friday, July 19th. JMP Securities downgraded Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Finally, Deutsche Bank upped their price objective on Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $48.10.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

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