Blackstone (NYSE:BX) Given New $126.00 Price Target at Barclays

Blackstone (NYSE:BX) had its price objective decreased by research analysts at Barclays from $164.00 to $126.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Barclays‘s price objective points to a potential upside of 10.78% from the stock’s current price.

BX has been the topic of several other reports. HSBC dropped their target price on Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $176.00 to $158.00 and set a “neutral” rating for the company in a report on Friday, January 30th. BMO Capital Markets cut their price objective on shares of Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Finally, TD Cowen dropped their target price on Blackstone from $183.00 to $164.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.57.

Blackstone Price Performance

Blackstone stock opened at $113.74 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $83.99 billion, a P/E ratio of 29.37, a PEG ratio of 0.97 and a beta of 1.76. The firm has a fifty day moving average of $143.94 and a 200-day moving average of $154.45. Blackstone has a 52-week low of $109.25 and a 52-week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The firm’s revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 EPS. As a group, analysts predict that Blackstone will post 5.87 EPS for the current year.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of Blackstone stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $26.16 per share, for a total transaction of $30,000,000.24. Following the transaction, the insider owned 16,716,249 shares in the company, valued at $437,297,073.84. This represents a 7.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearwave Capital LLC bought a new stake in Blackstone in the 4th quarter valued at about $344,000. NCM Capital Management LLC boosted its position in shares of Blackstone by 2.8% during the fourth quarter. NCM Capital Management LLC now owns 6,523 shares of the asset manager’s stock worth $1,005,000 after buying an additional 175 shares during the period. Strategic Investment Solutions Inc. IL increased its position in Blackstone by 152.9% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,740 shares of the asset manager’s stock valued at $268,000 after acquiring an additional 1,052 shares during the period. Tempo Wealth LLC acquired a new position in Blackstone during the 4th quarter worth $1,074,000. Finally, MidFirst Bank bought a new position in shares of Blackstone in the fourth quarter worth $1,533,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.