Paradigm Financial Advisors LLC decreased its stake in Blackstone Group L.P. (NYSE:BX) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,405 shares of the company’s stock after selling 267 shares during the period. Paradigm Financial Advisors LLC’s holdings in Blackstone Group L.P. were worth $721,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Artemis Investment Management LLP raised its position in Blackstone Group L.P. by 100.1% in the second quarter. Artemis Investment Management LLP now owns 1,929,006 shares of the company’s stock valued at $47,329,000 after buying an additional 964,862 shares in the last quarter. Prospera Financial Services Inc purchased a new position in Blackstone Group L.P. during the second quarter valued at approximately $1,054,000. Narwhal Capital Management raised its position in Blackstone Group L.P. by 16.0% in the second quarter. Narwhal Capital Management now owns 98,305 shares of the company’s stock valued at $2,412,000 after buying an additional 13,580 shares in the last quarter. Deltec Asset Management LLC purchased a new position in Blackstone Group L.P. during the second quarter valued at approximately $617,000. Finally, HL Financial Services LLC purchased a new position in Blackstone Group L.P. during the second quarter valued at approximately $668,000. Institutional investors and hedge funds own 49.02% of the company’s stock.
Blackstone Group L.P. (NYSE:BX) traded down 1.43% during trading on Monday, hitting $25.46. The company had a trading volume of 3,149,229 shares. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.24. The company has a market cap of $15.99 billion, a PE ratio of 53.71 and a beta of 1.58. The company’s 50 day moving average price is $27.09 and its 200-day moving average price is $26.67.
Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The business earned $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Blackstone Group L.P. had a net margin of 15.50% and a return on equity of 6.15%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts expect that Blackstone Group L.P. will post $2.08 earnings per share for the current year.
Several research firms have recently commented on BX. Vetr lowered Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.22 price target for the company. in a research report on Wednesday, September 21st. Credit Suisse Group AG restated a “buy” rating and set a $35.00 price target on shares of Blackstone Group L.P. in a research report on Monday, September 19th. Barclays PLC raised their price target on Blackstone Group L.P. from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Jefferies Group lifted their target price on Blackstone Group L.P. from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 26th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Blackstone Group L.P. has a consensus rating of “Buy” and a consensus price target of $34.19.
In related news, insider Kathleen Skero sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $27.87, for a total transaction of $306,570.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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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