Blackstone (NYSE:BX) Upgraded at StockNews.com

StockNews.com upgraded shares of Blackstone (NYSE:BX) from a hold rating to a buy rating in a research note published on Tuesday.

BX has been the subject of several other reports. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays cut their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Blackstone Stock Up 1.5 %

NYSE:BX opened at $185.56 on Tuesday. The firm has a market capitalization of $133.98 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. The stock has a 50 day moving average of $180.71 and a 200-day moving average of $159.71. Blackstone has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone

Hedge funds have recently bought and sold shares of the business. Bangor Savings Bank increased its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth $27,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth $34,000. Kieckhefer Group LLC acquired a new position in Blackstone during the fourth quarter worth $39,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.