Thoma Capital Management LLC Takes $800,000 Position in Blackstone Inc. (NYSE:BX)

Thoma Capital Management LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,642 shares of the asset manager's stock, valued at approximately $800,000. Blackstone comprises 0.5% of Thoma Capital Management LLC's holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also recently modified their holdings of the company. Avidian Wealth Enterprises LLC lifted its position in Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock valued at $2,790,000 after purchasing an additional 59 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after buying an additional 62 shares in the last quarter. McAdam LLC grew its position in Blackstone by 3.9% in the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock worth $291,000 after acquiring an additional 63 shares in the last quarter. CENTRAL TRUST Co increased its stake in Blackstone by 0.6% during the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after acquiring an additional 63 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its stake in shares of Blackstone by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager's stock valued at $365,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Bank of America decreased their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. JMP Securities restated a "market outperform" rating and issued a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. Citigroup cut their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. TD Cowen dropped their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $155.65.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 237 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now directly owns 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.3%

NYSE BX traded down $0.43 during trading on Friday, reaching $138.45. 6,190,012 shares of the company's stock traded hands, compared to its average volume of 3,794,766. The company's 50 day simple moving average is $135.83 and its two-hundred day simple moving average is $158.84. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The firm has a market cap of $101.02 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data 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 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm earned $0.98 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is 112.05%.

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.