Blackstone Group LP (BX) Short Interest Down 33.0% in January

Blackstone Group LP (NYSE:BX) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 8,743,919 shares, a decline of 33.0% from the January 12th total of 13,048,332 shares. Based on an average trading volume of 5,372,809 shares, the short-interest ratio is currently 1.6 days. Currently, 1.4% of the company’s stock are sold short.

BX has been the topic of a number of recent research reports. Vetr lowered Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a research report on Monday, November 20th. Morgan Stanley upped their target price on Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. upgraded Blackstone Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $34.53 to $46.00 in a research report on Friday, January 12th. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 target price on shares of Blackstone Group in a research report on Thursday, January 11th. Finally, Bank of America upped their target price on Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.90.

In other news, major shareholder Group L.P. Blackstone bought 25,466 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The shares were purchased at an average price of $28.61 per share, for a total transaction of $728,582.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.64, for a total value of $632,800.00. Following the completion of the sale, the insider now owns 87,852 shares in the company, valued at approximately $2,779,637.28. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC acquired a new position in Blackstone Group in the third quarter valued at approximately $131,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Blackstone Group in the fourth quarter valued at approximately $160,000. James Hambro & Partners acquired a new position in Blackstone Group in the fourth quarter valued at approximately $183,000. Jacobi Capital Management LLC lifted its holdings in Blackstone Group by 65.6% in the third quarter. Jacobi Capital Management LLC now owns 5,771 shares of the asset manager’s stock valued at $192,000 after acquiring an additional 2,287 shares during the period. Finally, New England Private Wealth Advisors LLC acquired a new position in Blackstone Group in the third quarter valued at approximately $200,000. 45.24% of the stock is owned by institutional investors.

Blackstone Group (BX) opened at $33.55 on Wednesday. Blackstone Group has a twelve month low of $28.45 and a twelve month high of $37.52. The stock has a market capitalization of $40,290.00, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. Blackstone Group had a return on equity of 22.46% and a net margin of 20.66%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.68 earnings per share. Blackstone Group’s revenue for the quarter was up 19.9% on a year-over-year basis. equities research analysts predict that Blackstone Group will post 3.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Friday, February 9th. This is an increase from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 dividend on an annualized basis and a yield of 10.13%. Blackstone Group’s payout ratio is presently 155.96%.

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Blackstone Group Company Profile

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

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