Blackstone Group L.P. (BX) Stock Rating Lowered by Vetr Inc.
Blackstone Group L.P. (NYSE:BX) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They presently have a $29.22 price target on the stock. Vetr‘s target price would suggest a potential upside of 10.89% from the company’s previous close.
Several other analysts have also recently commented on the stock. Barclays PLC decreased their price target on shares of Blackstone Group L.P. from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Credit Suisse Group AG reiterated a “buy” rating and issued a $35.00 price target on shares of Blackstone Group L.P. in a research note on Monday. Jefferies Group boosted their price target on shares of Blackstone Group L.P. from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Bank of America Corp. restated a “hold” rating on shares of Blackstone Group L.P. in a report on Friday, July 22nd. Finally, TheStreet downgraded shares of Blackstone Group L.P. to a “hold” rating in a report on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Blackstone Group L.P. currently has a consensus rating of “Buy” and a consensus price target of $34.19.
Shares of Blackstone Group L.P. (NYSE:BX) traded up 1.50% during mid-day trading on Wednesday, reaching $26.35. 2,577,098 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $27.13 and a 200 day moving average price of $26.69. Blackstone Group L.P. has a 12-month low of $22.31 and a 12-month high of $35.24. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 55.59 and a beta of 1.58.
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Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Blackstone Group L.P. had a net margin of 15.50% and a return on equity of 6.15%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. Analysts anticipate that Blackstone Group L.P. will post $2.08 EPS for the current fiscal year.
In other news, insider Kathleen Skero sold 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total value of $304,865.00. Following the completion of the sale, the insider now owns 42,967 shares of the company’s stock, valued at approximately $1,139,055.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Huntington National Bank boosted its stake in shares of Blackstone Group L.P. by 17.0% in the second quarter. Huntington National Bank now owns 4,687 shares of the company’s stock valued at $115,000 after buying an additional 682 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Blackstone Group L.P. by 1.0% in the second quarter. TCI Wealth Advisors Inc. now owns 5,074 shares of the company’s stock valued at $125,000 after buying an additional 51 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Blackstone Group L.P. during the second quarter valued at $125,000. Adirondack Trust Co. boosted its stake in shares of Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock valued at $128,000 after buying an additional 36 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock valued at $132,000 after buying an additional 2,565 shares during the last quarter. 49.02% of the stock is owned by hedge funds and other institutional investors.
Blackstone Group L.P. Company Profile
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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