Blackstone (NYSE:BX) PT Raised to $145.00 at Morgan Stanley

Blackstone (NYSE:BX) had its price objective upped by Morgan Stanley from $144.00 to $145.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 20.55% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Piper Sandler decreased their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Bank of America increased their price target on Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays increased their price target on Blackstone from $126.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, April 8th. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods raised their target price on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.97.

Blackstone Trading Down 2.4 %

Shares of BX stock opened at $120.28 on Wednesday. The stock has a market cap of $85.96 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 0.99 and a beta of 1.51. The stock has a 50-day moving average of $126.66 and a 200-day moving average of $117.66. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. Blackstone has a 1-year low of $79.92 and a 1-year high of $133.56.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.02). Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the business earned $0.97 EPS. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, equities research analysts forecast that Blackstone will post 4.88 earnings per share for the current year.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of hedge funds have recently made changes to their positions in the stock. RMB Capital Management LLC grew its holdings in shares of Blackstone by 1.9% during the fourth quarter. RMB Capital Management LLC now owns 4,531 shares of the asset manager’s stock valued at $593,000 after buying an additional 86 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Blackstone by 1.2% during the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock valued at $931,000 after buying an additional 87 shares during the last quarter. Fragasso Group Inc. grew its holdings in shares of Blackstone by 2.9% during the first quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock valued at $428,000 after buying an additional 91 shares during the last quarter. UNIVEST FINANCIAL Corp grew its holdings in shares of Blackstone by 2.9% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock valued at $435,000 after buying an additional 95 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its holdings in shares of Blackstone by 3.8% during the fourth quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock valued at $339,000 after buying an additional 96 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.