BluePath Capital Management LLC Has $971,000 Stake in Blackstone Inc. (NYSE:BX)

BluePath Capital Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,858 shares of the asset manager’s stock after purchasing an additional 835 shares during the quarter. BluePath Capital Management LLC’s holdings in Blackstone were worth $971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the period. West Financial Advisors LLC acquired a new stake in Blackstone in the third quarter worth $27,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $39,000. Raleigh Capital Management Inc. grew its stake in shares of Blackstone by 32.1% in the 3rd 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. raised its stake in Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley raised their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $169.56.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 3.4 %

BX opened at $175.12 on Thursday. The company’s 50-day moving average price is $180.70 and its two-hundred day moving average price is $157.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The stock has a market cap of $126.44 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities analysts expect that Blackstone Inc. will post 4.43 earnings per share for the current year.

About Blackstone

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.