Oxbow Advisors LLC continued to hold its position in Blackstone Group L.P. (NYSE:BX) during the third quarter, Holdings Channel reports. The fund owned 21,695 shares of the company’s stock at the end of the third quarter. Oxbow Advisors LLC’s holdings in Blackstone Group L.P. were worth $555,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Blackstone Group L.P. during the second quarter valued at about $125,000. Independent Portfolio Consultants Inc. raised its position in Blackstone Group L.P. by 16.6% in the third quarter. Independent Portfolio Consultants Inc. now owns 5,155 shares of the company’s stock valued at $132,000 after buying an additional 735 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new position in Blackstone Group L.P. during the third quarter valued at about $207,000. Ausdal Financial Partners Inc. raised its position in Blackstone Group L.P. by 8.8% in the second quarter. Ausdal Financial Partners Inc. now owns 8,485 shares of the company’s stock valued at $208,000 after buying an additional 684 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its position in Blackstone Group L.P. by 36.3% in the third quarter. Carroll Financial Associates Inc. now owns 8,494 shares of the company’s stock valued at $216,000 after buying an additional 2,264 shares in the last quarter. 49.08% of the stock is owned by hedge funds and other institutional investors.
Blackstone Group L.P. (NYSE:BX) traded down 0.91% on Thursday, reaching $29.31. The company had a trading volume of 4,032,270 shares. The stock has a market capitalization of $18.50 billion, a P/E ratio of 24.42 and a beta of 1.44. The stock’s 50 day moving average is $28.76 and its 200-day moving average is $26.51. Blackstone Group L.P. has a 1-year low of $22.45 and a 1-year high of $31.16.
Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.08. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.55 billion. Blackstone Group L.P. had a return on equity of 15.41% and a net margin of 23.30%. During the same period in the prior year, the company posted ($0.35) earnings per share. On average, equities analysts predict that Blackstone Group L.P. will post $1.98 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Barclays PLC lowered their price target on Blackstone Group L.P. from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 13th. Morgan Stanley reiterated an “overweight” rating on shares of Blackstone Group L.P. in a report on Saturday, December 17th. Credit Suisse Group AG lifted their price objective on Blackstone Group L.P. and gave the stock an “outperform” rating in a report on Wednesday, January 4th. Zacks Investment Research upgraded Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, January 11th. Finally, Bank of America Corp. upgraded Blackstone Group L.P. from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Friday, December 16th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.12.
In other news, insider John G. Finley sold 10,000 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the sale, the insider now directly owns 100,745 shares of the company’s stock, valued at approximately $2,921,605. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $22.66, for a total value of $220,443,210.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,466,594 shares of company stock valued at $441,273,703. Insiders own 1.00% of the company’s stock.
Blackstone Group L.P. Company Profile
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.
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