Blackstone (NYSE:BX) Price Target Cut to $110.00 by Analysts at Morgan Stanley

Blackstone (NYSE:BX – Get Rating) had its price target decreased by Morgan Stanley from $113.00 to $110.00 in a research report sent to investors on Tuesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

A number of other analysts have also commented on the company. CICC Research began coverage on Blackstone in a research report on Thursday, January 12th. They issued an outperform rating for the company. BMO Capital Markets lowered their price objective on Blackstone from $90.00 to $85.00 and set a market perform rating for the company in a research report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $127.00 to $128.00 and gave the stock a buy rating in a research report on Tuesday, November 15th. Piper Sandler lowered their price objective on Blackstone from $114.00 to $111.00 and set an overweight rating for the company in a research report on Wednesday, December 21st. Finally, Barclays raised their target price on Blackstone from $80.00 to $86.00 and gave the stock an equal weight rating in a report on Thursday, January 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of Hold and an average target price of $109.03.

Blackstone Stock Performance

Shares of NYSE:BX opened at $88.22 on Tuesday. Blackstone has a twelve month low of $71.72 and a twelve month high of $138.95. The firm has a market cap of $61.91 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.85. The business has a fifty day moving average of $81.81 and a 200-day moving average of $90.26.

Insider Activity

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $33.42, for a total value of $2,172,300.00. Following the sale, the insider now owns 11,205,000 shares in the company, valued at approximately $374,471,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $33.42, for a total value of $2,172,300.00. Following the sale, the insider now owns 11,205,000 shares in the company, valued at approximately $374,471,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Porat bought 20,000 shares of the business’s stock in a transaction on Friday, December 2nd. The stock was purchased at an average price of $83.55 per share, for a total transaction of $1,671,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $1,671,000. The disclosure for this purchase can be found here. Insiders have sold 19,297,285 shares of company stock worth $172,508,262 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BX. Mach 1 Financial Group LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $25,000. SJS Investment Consulting Inc. acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $26,000. HWG Holdings LP acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $28,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $29,000. Finally, Trust Co. of Vermont increased its holdings in shares of Blackstone by 133.3% during the 3rd quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 62.39% of the company’s stock.

Blackstone Company Profile

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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.