Blackstone (NYSE:BX) Rating Increased to Buy at StockNews.com

Blackstone (NYSE:BXGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on BX. Barclays cut their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Bank of America increased their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley lifted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $169.56.

View Our Latest Research Report on BX

Blackstone Price Performance

Shares of BX opened at $180.00 on Tuesday. The firm has a fifty day moving average price of $180.73 and a 200 day moving average price of $158.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone has a 1-year low of $115.63 and a 1-year high of $200.96. The stock has a market cap of $129.96 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BX. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth about $27,000. Kieckhefer Group LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $39,000. Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its stake in Blackstone by 57.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

About Blackstone

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Blackstone (NYSE:BX)

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