Blackstone Inc. (NYSE:BX) Short Interest Update

Blackstone Inc. (NYSE:BXGet Free Report) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 21,840,000 shares, a growth of 8.3% from the April 15th total of 20,160,000 shares. Based on an average daily volume of 3,650,000 shares, the days-to-cover ratio is currently 6.0 days.

Analyst Ratings Changes

BX has been the subject of several research analyst reports. Piper Sandler cut their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. BMO Capital Markets increased their price objective on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their target price on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Barclays reiterated an “equal weight” rating and issued a $125.00 price target (down previously from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Finally, Bank of America decreased their price objective on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.65.

Check Out Our Latest Stock Analysis on Blackstone

Blackstone Trading Down 1.7 %

BX stock traded down $2.21 during mid-day trading on Friday, reaching $125.67. The company had a trading volume of 3,935,927 shares, compared to its average volume of 3,674,262. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $89.81 billion, a PE ratio of 44.41, a price-to-earnings-growth ratio of 1.10 and a beta of 1.52. The firm has a 50 day moving average of $124.80 and a 200 day moving average of $120.88. Blackstone has a 12 month low of $81.06 and a 12 month high of $133.56.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. On average, equities analysts predict that Blackstone will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.64%. Blackstone’s payout ratio is presently 117.31%.

Insider Buying and Selling at Blackstone

In other news, Director Reginald J. Brown bought 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $125.62 per share, with a total value of $301,488.00. Following the acquisition, the director now owns 16,949 shares of the company’s stock, valued at approximately $2,129,133.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ruth Porat bought 219 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reginald J. Brown acquired 2,400 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $125.62 per share, with a total value of $301,488.00. Following the acquisition, the director now directly owns 16,949 shares in the company, valued at $2,129,133.38. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of large investors have recently bought and sold shares of the business. Northwest Financial Advisors bought a new position in shares of Blackstone during the 4th quarter worth approximately $25,000. Chilton Capital Management LLC purchased a new stake in shares of Blackstone during the 1st quarter valued at $26,000. Bourgeon Capital Management LLC grew its stake in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Roble Belko & Company Inc acquired a new position in Blackstone during the 4th quarter valued at about $30,000. Finally, Advantage Trust Co acquired a new stake in Blackstone in the fourth quarter worth about $30,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

(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.

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