Blackstone (NYSE:BX) Price Target Raised to $180.00 at JMP Securities

Blackstone (NYSE:BX - Get Free Report) had its price objective lifted by JMP Securities from $165.00 to $180.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the asset manager's stock. JMP Securities' target price suggests a potential upside of 11.44% from the stock's current price.

BX has been the topic of a number of other reports. TD Cowen reduced their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Citigroup increased their price objective on shares of Blackstone from $137.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley lowered their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Barclays reissued an "equal weight" rating on shares of Blackstone in a research report on Thursday. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $162.18.

Blackstone Trading Down 0.3%

Shares of NYSE BX opened at $161.53 on Monday. The firm has a market cap of $117.86 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone has a twelve month low of $115.66 and a twelve month high of $200.96. The business has a fifty day simple moving average of $143.68 and a two-hundred day simple moving average of $150.62.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $0.98 EPS. Analysts expect that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider owned 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat purchased 237 shares of the stock in a transaction dated Monday, May 5th. The shares were purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Blackstone

A number of hedge funds have recently bought and sold shares of BX. 1248 Management LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at $25,000. von Borstel & Associates Inc. purchased a new position in shares of Blackstone in the 1st quarter valued at about $28,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone during the 1st quarter worth about $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone in the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Blackstone during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 70.00% of the company's stock.

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.

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