Blackstone’s (BX) “Equal Weight” Rating Reiterated at Barclays

Blackstone (NYSE:BX)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Barclays in a report released on Friday, Benzinga reports. They currently have a $125.00 target price on the asset manager’s stock, down from their previous target price of $129.00. Barclays‘s price objective would suggest a potential upside of 3.92% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday. Piper Sandler decreased their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. UBS Group boosted their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. BMO Capital Markets boosted their price target on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Company boosted their price target on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.97.

Blackstone Trading Down 2.4 %

Shares of BX stock opened at $120.28 on Friday. The company has a market cap of $85.96 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 1.01 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average price of $126.66 and a 200-day moving average price of $117.66. Blackstone has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. As a group, equities analysts predict that Blackstone will post 4.88 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the transaction, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fairfield Bush & CO. boosted its position in Blackstone by 56.1% during the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after acquiring an additional 1,530 shares in the last quarter. United Bank boosted its position in Blackstone by 34.2% during the 1st quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after acquiring an additional 2,153 shares in the last quarter. Yousif Capital Management LLC boosted its position in Blackstone by 10.4% during the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after acquiring an additional 1,034 shares in the last quarter. Insight Advisors LLC PA boosted its position in Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after acquiring an additional 286 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of Blackstone by 12.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after purchasing an additional 4,366 shares during the last quarter. 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.