Blackstone (NYSE:BX) Upgraded at StockNews.com

StockNews.com upgraded shares of Blackstone (NYSE:BX) from a hold rating to a buy rating in a report released on Tuesday morning.

BX has been the topic of several other reports. Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Citigroup upped their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Barclays lowered their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods lowered 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. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

Shares of BX stock opened at $185.56 on Tuesday. Blackstone has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50-day simple moving average of $180.71 and a 200 day simple moving average of $159.71. The company has a market capitalization of $133.98 billion, a price-to-earnings ratio of 63.77, a PEG ratio of 1.21 and a beta of 1.53.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BX. Bangor Savings Bank raised its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new position in shares of Blackstone during the third quarter worth about $27,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone during the fourth quarter worth about $34,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $39,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

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.