Blackstone Group LP (NYSE:BX) Short Interest Down 34.5% in July

Blackstone Group LP (NYSE:BX) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 10,683,600 shares, a decline of 34.5% from the June 30th total of 16,315,200 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 6,810,000 shares, the short-interest ratio is presently 1.6 days.

BX traded up $1.19 on Tuesday, reaching $47.65. The company had a trading volume of 5,035,474 shares, compared to its average volume of 5,020,163. The business has a 50 day moving average of $46.67. The stock has a market capitalization of $30.73 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. Blackstone Group has a 52-week low of $26.88 and a 52-week high of $49.81.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.28%. Blackstone Group’s quarterly revenue was down 43.5% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. On average, equities analysts expect that Blackstone Group will post 2.32 EPS for the current fiscal year.



The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Friday, July 26th. Blackstone Group’s dividend payout ratio (DPR) is presently 84.96%.

In related news, insider Christopher Striano sold 7,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $48.23, for a total transaction of $337,610.00. Following the completion of the transaction, the insider now owns 36,186 shares in the company, valued at $1,745,250.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Blackstone Group Inc purchased 100,000 shares of Blackstone Group stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $7.94 per share, with a total value of $794,000.00. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of BX. US Bancorp DE boosted its holdings in shares of Blackstone Group by 5.7% during the 2nd quarter. US Bancorp DE now owns 135,398 shares of the asset manager’s stock valued at $6,015,000 after buying an additional 7,302 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new position in shares of Blackstone Group in the 2nd quarter worth about $1,425,000. Scotia Capital Inc. raised its position in shares of Blackstone Group by 13.5% in the 2nd quarter. Scotia Capital Inc. now owns 86,034 shares of the asset manager’s stock worth $3,822,000 after purchasing an additional 10,236 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Blackstone Group by 1.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 503,030 shares of the asset manager’s stock worth $22,345,000 after purchasing an additional 4,753 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Blackstone Group by 157.4% in the 2nd quarter. IHT Wealth Management LLC now owns 22,768 shares of the asset manager’s stock worth $1,016,000 after purchasing an additional 13,923 shares during the last quarter. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

BX has been the subject of several research reports. JMP Securities lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Zacks Investment Research upgraded shares of Blackstone Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 25th. Morgan Stanley increased their target price on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank increased their target price on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Barclays began coverage on shares of Blackstone Group in a research report on Monday, August 5th. They set an “overweight” rating and a $56.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.10.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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