Mirador Capital Partners LP raised its holdings in shares of Blackstone Group LP (NYSE:BX) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,940 shares of the asset manager’s stock after buying an additional 2,051 shares during the period. Blackstone Group comprises 1.7% of Mirador Capital Partners LP’s investment portfolio, making the stock its 14th largest position. Mirador Capital Partners LP’s holdings in Blackstone Group were worth $4,304,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BX. Burt Wealth Advisors purchased a new stake in shares of Blackstone Group during the third quarter valued at approximately $26,000. Allworth Financial LP increased its stake in shares of Blackstone Group by 359.8% in the fourth quarter. Allworth Financial LP now owns 469 shares of the asset manager’s stock worth $26,000 after buying an additional 367 shares during the last quarter. Lenox Wealth Advisors LLC bought a new stake in shares of Blackstone Group in the third quarter worth $28,000. Hartford Financial Management Inc. bought a new stake in shares of Blackstone Group in the third quarter worth $30,000. Finally, TCI Wealth Advisors Inc. bought a new stake in shares of Blackstone Group in the third quarter worth $32,000. 53.37% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $243,965,929.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Blackstone Group Inc sold 8,875,211 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $2.50, for a total transaction of $22,188,027.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,608,103 shares of company stock valued at $311,151,291. Corporate insiders own 1.00% of the company’s stock.
BX stock traded up $0.45 during trading on Friday, hitting $60.60. 197,924 shares of the company’s stock traded hands, compared to its average volume of 3,510,085. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Blackstone Group LP has a 52 week low of $32.17 and a 52 week high of $60.19. The stock has a fifty day moving average price of $55.46 and a two-hundred day moving average price of $50.85. The stock has a market capitalization of $39.66 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 1.14 and a beta of 1.44.
Blackstone Group (NYSE:BX) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities research analysts expect that Blackstone Group LP will post 2.27 EPS for the current fiscal year.
About Blackstone Group
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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