Gilman Hill Asset Management LLC trimmed its stake in Blackstone Group LP (NYSE:BX) by 18.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,563 shares of the asset manager’s stock after selling 3,100 shares during the period. Gilman Hill Asset Management LLC’s holdings in Blackstone Group were worth $759,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Compass Ion Advisors LLC bought a new stake in shares of Blackstone Group in the 4th quarter valued at approximately $1,281,000. Comprehensive Portfolio Management LLC bought a new stake in shares of Blackstone Group in the 4th quarter valued at approximately $214,000. Arlington Partners LLC bought a new stake in shares of Blackstone Group in the 4th quarter valued at approximately $132,000. We Are One Seven LLC lifted its stake in shares of Blackstone Group by 8.5% in the 4th quarter. We Are One Seven LLC now owns 5,662 shares of the asset manager’s stock valued at $316,000 after purchasing an additional 442 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Blackstone Group by 359.8% in the 4th quarter. Allworth Financial LP now owns 469 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 367 shares during the last quarter. 53.37% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on BX shares. S&P Equity Research lowered Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. Bank of America lowered Blackstone Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $54.00 to $52.00 in a research note on Monday, October 14th. ValuEngine lowered Blackstone Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley reissued an “overweight” rating and set a $60.00 price target (up from $57.00) on shares of Blackstone Group in a research note on Friday, October 25th. Finally, BMO Capital Markets started coverage on Blackstone Group in a research note on Monday, October 7th. They set a “market perform” rating and a $44.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Blackstone Group presently has an average rating of “Hold” and a consensus price target of $55.13.
Shares of BX stock traded up $0.54 on Friday, reaching $60.69. 999,275 shares of the company’s stock were exchanged, compared to its average volume of 3,510,085. Blackstone Group LP has a 52 week low of $32.17 and a 52 week high of $60.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $39.66 billion, a PE ratio of 26.85, a P/E/G ratio of 1.14 and a beta of 1.44. The company’s fifty day simple moving average is $55.46 and its 200 day simple moving average is $50.85.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Blackstone Group had a return on equity of 7.61% and a net margin of 27.05%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $0.63 EPS. Blackstone Group’s quarterly revenue was down 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Blackstone Group LP will post 2.27 earnings per share 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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