Voloridge Investment Management LLC Purchases New Shares in Blackstone Inc. (NYSE:BX)

Voloridge Investment Management LLC acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 316,949 shares of the asset manager's stock, valued at approximately $54,648,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Worldquant Millennium Advisors LLC acquired a new stake in Blackstone during the 4th quarter worth $3,809,000. Waverly Advisors LLC increased its position in shares of Blackstone by 23.1% in the fourth quarter. Waverly Advisors LLC now owns 27,708 shares of the asset manager's stock valued at $4,777,000 after acquiring an additional 5,204 shares during the last quarter. Woodline Partners LP bought a new position in Blackstone during the fourth quarter worth about $7,476,000. Vident Advisory LLC grew its holdings in Blackstone by 396.2% during the fourth quarter. Vident Advisory LLC now owns 54,458 shares of the asset manager's stock worth $9,390,000 after purchasing an additional 43,483 shares during the period. Finally, St. Clair Advisors LLC bought a new stake in shares of Blackstone during the fourth quarter worth approximately $3,421,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 237 shares of the firm's stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director now owns 37,067 shares of the company's stock, valued at $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents 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 Trading Down 0.9%

NYSE:BX opened at $144.10 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market cap of $105.14 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a 50-day moving average price of $137.50 and a two-hundred day moving average price of $161.16.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly 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 return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share 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 issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.58%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is 112.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BX shares. StockNews.com lowered Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Cowen reiterated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. JMP Securities restated a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their price target 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. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $154.82.

Blackstone 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.

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