Blackstone Inc. $BX Shares Sold by Core Alternative Capital

Core Alternative Capital cut its stake in Blackstone Inc. (NYSE:BX) by 95.0% in the third quarter, HoldingsChannel reports. The fund owned 893 shares of the asset manager’s stock after selling 17,106 shares during the period. Core Alternative Capital’s holdings in Blackstone were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BX. Arcus Capital Partners LLC boosted its position in Blackstone by 1.2% during the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after purchasing an additional 58 shares in the last quarter. Mattern Wealth Management LLC lifted its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after buying an additional 60 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in Blackstone by 3.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock worth $267,000 after acquiring an additional 61 shares in the last quarter. WNY Asset Management LLC lifted its holdings in Blackstone by 1.7% during the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after purchasing an additional 64 shares in the last quarter. Finally, Redwood Financial Network Corp increased its stake in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Bank of America decreased their price objective on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Piper Sandler reduced their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. UBS Group lowered their price target on shares of Blackstone from $175.00 to $172.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 13th. Finally, BMO Capital Markets decreased their target price on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Nine research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $177.25.

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 384,468 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was bought at an average price of $26.01 per share, for a total transaction of $10,000,012.68. Following the completion of the acquisition, the insider owned 16,525,117 shares in the company, valued at approximately $429,818,293.17. The trade was a 2.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 783,978 shares of company stock worth $22,058,454 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $148.57 on Wednesday. The company’s 50-day moving average is $152.79 and its two-hundred day moving average is $161.18. The firm has a market capitalization of $109.71 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 1.06 and a beta of 1.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.