Insider Selling: Real Estate Associa Blackstone Unloads 8,050,000 Shares of The Blackstone Group L.P. Stock (BX)
The Blackstone Group L.P. (NYSE:BX) major shareholder Real Estate Associa Blackstone sold 8,050,000 shares of The Blackstone Group L.P. stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $21.10, for a total transaction of $169,855,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of The Blackstone Group L.P. (NYSE:BX) traded up 0.60% on Wednesday, hitting $33.42. The stock had a trading volume of 3,214,908 shares. The Blackstone Group L.P. has a 52 week low of $21.30 and a 52 week high of $36.08. The stock’s 50-day moving average is $33.58 and its 200-day moving average is $32.32. The company has a market cap of $19.569 billion and a P/E ratio of 12.70.
The Blackstone Group L.P. (NYSE:BX) last released its earnings data on Thursday, July 17th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.69 by $0.04. The company had revenue of $938.88 million for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 56.2% on a year-over-year basis. On average, analysts predict that The Blackstone Group L.P. will post $3.83 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on BX shares. Analysts at Deutsche Bank raised their price target on shares of The Blackstone Group L.P. to $42.00 in a research note on Friday, July 18th. Separately, analysts at JMP Securities raised their price target on shares of The Blackstone Group L.P. from $42.00 to $44.00 in a research note on Friday, July 18th. They now have a “market outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of The Blackstone Group L.P. from $40.00 to $41.00 in a research note on Friday, July 18th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.77.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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