Several brokerages have updated their recommendations and price targets on shares of The Blackstone Group L.P. (NYSE: BX) in the last few weeks:
Shares of The Blackstone Group L.P. (NYSE:BX) opened at 29.58 on Thursday. The firm’s 50-day moving average price is $28.65 and its 200 day moving average price is $26.48. The Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $31.16. The company has a market cap of $18.67 billion, a PE ratio of 24.65 and a beta of 1.44.
The Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.08. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.55 billion. The Blackstone Group L.P. had a net margin of 23.30% and a return on equity of 15.41%. During the same period in the previous year, the firm posted ($0.35) EPS. Equities research analysts anticipate that The Blackstone Group L.P. will post $1.99 earnings per share for the current fiscal year.
In other news, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of The Blackstone Group L.P. stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $22.66, for a total transaction of $220,443,210.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 10,000 shares of The Blackstone Group L.P. stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the insider now directly owns 100,745 shares in the company, valued at approximately $2,921,605. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.