Blackstone Inc. (NYSE:BX) Major Shareholder Purchases $29,999,997.04 in Stock

Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Holdings I. L.P. Blackstone purchased 1,189,532 shares of Blackstone stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the transaction, the insider directly owned 4,178,771 shares of the company's stock, valued at approximately $105,388,604.62. The trade was a 39.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Blackstone Stock Down 0.2%

Shares of BX traded down $0.29 during mid-day trading on Monday, reaching $168.43. The company had a trading volume of 932,957 shares, compared to its average volume of 3,844,126. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day moving average price of $146.60 and a 200 day moving average price of $150.39. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a market capitalization of $122.90 billion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 1.52 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BX. Bank of America dropped their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. UBS Group dropped their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. JMP Securities lifted their price objective on Blackstone from $165.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a research note on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $162.18.

Institutional Investors Weigh In On Blackstone

A number of hedge funds have recently added to or reduced their stakes in BX. 1248 Management LLC bought a new position in Blackstone in the 1st quarter worth $25,000. von Borstel & Associates Inc. bought a new position in Blackstone in the 1st quarter worth $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone in the 1st quarter worth $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone in the 1st quarter worth $28,000. Finally, Livelsberger Financial Advisory bought a new position in Blackstone in the 2nd quarter worth $30,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone

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.