Insider Buying: Blackstone Group LP (NYSE:BX) Major Shareholder Acquires $4,801,071.81 in Stock

Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc purchased 236,157 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price of $20.33 per share, for a total transaction of $4,801,071.81. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Blackstone Group Inc also recently made the following trade(s):

  • On Monday, March 16th, Blackstone Group Inc purchased 610,409 shares of Blackstone Group stock. The stock was acquired at an average price of $26.24 per share, for a total transaction of $16,017,132.16.
  • On Thursday, March 12th, Blackstone Group Inc purchased 333,965 shares of Blackstone Group stock. The stock was acquired at an average price of $26.02 per share, for a total transaction of $8,689,769.30.
  • On Tuesday, March 10th, Blackstone Group Inc purchased 327,762 shares of Blackstone Group stock. The stock was acquired at an average price of $25.78 per share, for a total transaction of $8,449,704.36.

Shares of NYSE BX opened at $42.82 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day moving average price is $54.25 and its two-hundred day moving average price is $53.82. Blackstone Group LP has a one year low of $33.00 and a one year high of $64.97. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.71 and a beta of 1.54.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Blackstone Group had a return on equity of 13.86% and a net margin of 27.93%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was up 314.2% on a year-over-year basis. On average, equities analysts anticipate that Blackstone Group LP will post 2.93 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on BX shares. Citigroup upgraded Blackstone Group from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, March 18th. Credit Suisse Group restated a “buy” rating and issued a $65.00 price target on shares of Blackstone Group in a research note on Sunday, February 2nd. BMO Capital Markets restated a “market perform” rating and issued a $53.00 price target on shares of Blackstone Group in a research note on Friday, January 31st. Bank of America dropped their price target on Blackstone Group from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Argus increased their price target on Blackstone Group from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $59.20.

A number of hedge funds and other institutional investors have recently modified their holdings of BX. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Blackstone Group by 24.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 530,704 shares of the asset manager’s stock worth $29,688,000 after purchasing an additional 104,733 shares in the last quarter. Walnut Private Equity Partners LLC grew its holdings in shares of Blackstone Group by 0.7% during the 4th quarter. Walnut Private Equity Partners LLC now owns 623,000 shares of the asset manager’s stock worth $34,851,000 after purchasing an additional 4,500 shares in the last quarter. GQ Asset Management LLC acquired a new stake in shares of Blackstone Group during the 4th quarter worth $626,000. Altium Wealth Management LLC grew its holdings in shares of Blackstone Group by 4.1% during the 4th quarter. Altium Wealth Management LLC now owns 4,584 shares of the asset manager’s stock worth $256,000 after purchasing an additional 182 shares in the last quarter. Finally, Alpha Cubed Investments LLC acquired a new stake in shares of Blackstone Group during the 4th quarter worth $220,000. 55.40% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Group Company Profile

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.

Further Reading: Hedge Funds Explained

Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

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