Zeke Capital Advisors LLC Takes $1.54 Million Position in Blackstone Group LP (NYSE:BX)

Zeke Capital Advisors LLC acquired a new stake in shares of Blackstone Group LP (NYSE:BX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,607 shares of the asset manager’s stock, valued at approximately $1,544,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Wealth Management Group LLC boosted its position in shares of Blackstone Group by 2.4% during the third quarter. Strategic Wealth Management Group LLC now owns 9,241 shares of the asset manager’s stock valued at $451,000 after buying an additional 213 shares during the last quarter. Valley National Advisers Inc. boosted its position in Blackstone Group by 1.0% in the second quarter. Valley National Advisers Inc. now owns 23,348 shares of the asset manager’s stock worth $1,037,000 after purchasing an additional 233 shares during the last quarter. Ashfield Capital Partners LLC boosted its position in Blackstone Group by 0.7% in the second quarter. Ashfield Capital Partners LLC now owns 33,573 shares of the asset manager’s stock worth $1,491,000 after purchasing an additional 242 shares during the last quarter. Cottage Street Advisors LLC boosted its position in Blackstone Group by 0.3% in the second quarter. Cottage Street Advisors LLC now owns 75,450 shares of the asset manager’s stock worth $3,351,000 after purchasing an additional 247 shares during the last quarter. Finally, BB&T Corp boosted its position in Blackstone Group by 2.3% in the second quarter. BB&T Corp now owns 10,949 shares of the asset manager’s stock worth $486,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 47.10% of the company’s stock.

In other news, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $32.75, for a total transaction of $299,006,386.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Striano sold 7,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $48.23, for a total value of $337,610.00. Following the transaction, the insider now directly owns 36,186 shares in the company, valued at approximately $1,745,250.78. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 694,319 shares of company stock worth $5,581,544 and have sold 9,161,966 shares worth $300,689,747. 1.00% of the stock is owned by corporate insiders.

BX stock traded up $0.59 during midday trading on Friday, hitting $48.39. The company’s stock had a trading volume of 3,711,091 shares, compared to its average volume of 9,410,636. The stock’s 50-day moving average price is $49.73 and its 200 day moving average price is $44.57. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.82. Blackstone Group LP has a 1 year low of $26.88 and a 1 year high of $55.17. The stock has a market cap of $31.62 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.06 and a beta of 1.45.

Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Blackstone Group had a return on equity of 11.30% and a net margin of 20.51%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was down 43.5% compared to the same quarter last year. As a group, equities analysts forecast that Blackstone Group LP will post 2.26 earnings per share for the current fiscal year.

BX has been the topic of several research analyst reports. Barclays set a $53.00 price objective on Blackstone Group and gave the stock a “buy” rating in a research report on Friday, October 11th. ValuEngine cut Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. S&P Equity Research cut Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. BMO Capital Markets initiated coverage on Blackstone Group in a research report on Monday, October 7th. They issued a “market perform” rating and a $44.00 price objective on the stock. Finally, Oppenheimer cut Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.75.

Blackstone Group Company Profile

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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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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