Stock Traders Purchase Large Volume of The Blackstone Group L.P. Put Options (BX)
Shares of The Blackstone Group L.P. (NYSE:BX) was the recipient of unusually large options trading activity on Tuesday. Investors bought 9,753 put options on the stock, ARN reports. This represents an increase of 213% compared to the typical daily volume of 3,114 put options.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of The Blackstone Group L.P. (NYSE:BX) from $26.00 to $30.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Blackstone Group L.P. (NYSE:BX) in a research note to investors on Wednesday, September 18th. They now have a $24.50 price target on the stock. Finally, analysts at Merrill Lynch upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $27.46.
The Blackstone Group L.P. (NYSE:BX) traded up 0.36% during mid-day trading on Tuesday, hitting $24.98. 3,290,670 shares of the company’s stock traded hands. The Blackstone Group L.P. has a 52-week low of $13.31 and a 52-week high of $25.61. The stock has a 50-day moving average of $22.87 and a 200-day moving average of $21.80. The company has a market cap of $14.062 billion and a P/E ratio of 23.09.
The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 129.7% on a year-over-year basis. On average, analysts predict that The Blackstone Group L.P. will post $2.38 earnings per share for the current fiscal year.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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