Blackstone (NYSE:BX) Price Target Lowered to $174.00 at HSBC

Blackstone (NYSE:BX) had its price objective reduced by HSBC from $178.00 to $174.00 in a research note released on Wednesday morning,MarketScreener reports. HSBC currently has a hold rating on the asset manager’s stock.

Several other equities analysts also recently weighed in on BX. TD Cowen dropped their target price on Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Rothschild & Co Redburn cut their target price on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. BMO Capital Markets dropped their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. UBS Group reduced their price objective on Blackstone from $175.00 to $172.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 13th. Finally, Bank of America cut their price target on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.05.

Blackstone Trading Down 1.2%

BX opened at $146.64 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $108.28 billion, a P/E ratio of 41.90, a P/E/G ratio of 1.05 and a beta of 1.75. Blackstone has a 52 week low of $115.66 and a 52 week high of $190.09. The business has a fifty day simple moving average of $152.95 and a 200-day simple moving average of $161.08.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the transaction, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This trade represents a 99.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director owned 68,906 shares in the company, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 783,978 shares of company stock worth $22,058,454. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC grew its position in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after acquiring an additional 177 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Blackstone by 10.7% in the second quarter. Avior Wealth Management LLC now owns 3,451 shares of the asset manager’s stock valued at $516,000 after purchasing an additional 333 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Blackstone by 11.2% during the second quarter. V Square Quantitative Management LLC now owns 1,981 shares of the asset manager’s stock worth $296,000 after purchasing an additional 199 shares during the period. Finally, GC Wealth Management RIA LLC grew its position in Blackstone by 226.3% in the 2nd quarter. GC Wealth Management RIA LLC now owns 5,113 shares of the asset manager’s stock valued at $765,000 after buying an additional 3,546 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.