Blackstone (BX) Set to Announce Earnings on Thursday

Blackstone (NYSE:BX – Get Rating) is scheduled to be releasing its earnings data before the market opens on Thursday, January 26th. Analysts expect Blackstone to post earnings of $0.97 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Blackstone Trading Up 0.4 %

NYSE:BX traded up $0.39 during mid-day trading on Tuesday, hitting $88.22. 4,503,802 shares of the stock traded hands, compared to its average volume of 4,739,633. The stock has a market capitalization of $61.91 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.64 and a beta of 1.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.52. Blackstone has a 52 week low of $71.72 and a 52 week high of $138.95. The firm’s 50 day moving average is $81.81 and its two-hundred day moving average is $90.26.

Insider Transactions at Blackstone

In other news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $7.46, for a total value of $90,673,845.66. Following the sale, the insider now owns 295 shares in the company, valued at $2,200.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $8.00, for a total value of $50,732,544.00. Following the transaction, the insider now directly owns 83,109 shares of the company’s stock, valued at $664,872. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $7.46, for a total transaction of $90,673,845.66. Following the completion of the transaction, the insider now directly owns 295 shares in the company, valued at $2,200.70. The disclosure for this sale can be found here. Insiders have sold 19,382,285 shares of company stock worth $175,371,912 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone

Several hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation N.A. increased its position in Blackstone by 31.5% during the first quarter. Zions Bancorporation N.A. now owns 3,171 shares of the asset manager’s stock worth $403,000 after purchasing an additional 760 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its position in Blackstone by 12.2% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 2,975 shares of the asset manager’s stock worth $378,000 after purchasing an additional 323 shares during the last quarter. Wetherby Asset Management Inc. increased its position in Blackstone by 12.5% during the first quarter. Wetherby Asset Management Inc. now owns 2,711 shares of the asset manager’s stock worth $344,000 after purchasing an additional 302 shares during the last quarter. Eudaimonia Partners LLC acquired a new stake in shares of Blackstone during the first quarter valued at about $331,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Blackstone during the first quarter valued at about $313,000. 62.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BX shares. The Goldman Sachs Group lowered their price objective on shares of Blackstone from $101.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. Barclays boosted their price objective on shares of Blackstone from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 12th. BMO Capital Markets lowered their price target on shares of Blackstone from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, January 5th. StockNews.com cut shares of Blackstone from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $127.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $109.03.

About Blackstone

(Get Rating)

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.