Citizens Jmp Cuts Blackstone (NYSE:BX) Price Target to $190.00

Blackstone (NYSE:BX) had its price objective reduced by stock analysts at Citizens Jmp from $195.00 to $190.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the asset manager’s stock. Citizens Jmp’s price objective points to a potential upside of 47.63% from the stock’s previous close.

Other analysts have also issued research reports about the company. BMO Capital Markets upped their target price on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Piper Sandler cut their target price on Blackstone from $158.00 to $122.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Oppenheimer raised Blackstone from a “market perform” rating to an “outperform” rating and set a $154.00 target price for the company in a research note on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Monday. Finally, Argus cut their target price on Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $153.77.

Blackstone Stock Down 0.2%

Shares of NYSE BX opened at $128.70 on Wednesday. Blackstone has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $95.52 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 1.33 and a beta of 1.74. The business has a 50-day moving average of $116.99 and a 200-day moving average of $138.83.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping the consensus estimate of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm earned $1.69 earnings per share. Blackstone’s revenue was up 41.4% on a year-over-year basis. Sell-side analysts expect that Blackstone will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider owned 25,832 shares in the company, valued at $90,670.32. The trade was a 99.66% decrease in their position. The SEC filing for this sale provides additional information. 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 made changes to their positions in BX. REAP Financial Group LLC bought a new position in shares of Blackstone during the third quarter valued at approximately $26,000. Family CFO Inc bought a new position in shares of Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new position in shares of Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new position in shares of Blackstone during the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in Blackstone in the third quarter worth $30,000. Institutional investors own 70.00% of the company’s stock.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.