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

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

BX has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group increased their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America lifted 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. Finally, BMO Capital Markets raised their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

Shares of NYSE BX opened at $180.00 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50 day simple moving average is $180.73 and its 200-day simple moving average is $158.74. Blackstone has a 12 month low of $115.63 and a 12 month high of $200.96. The stock has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG 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 the business’s 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Blackstone by 3.5% in the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after purchasing an additional 2,002 shares during the period. AE Wealth Management LLC grew its position in shares of Blackstone by 100.5% during the second quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock worth $1,253,000 after buying an additional 5,072 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Blackstone by 4.5% in the second quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock valued at $6,313,000 after acquiring an additional 2,206 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Blackstone by 2.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after acquiring an additional 1,036 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Blackstone by 3.8% in the 2nd quarter. ProShare Advisors LLC now owns 160,486 shares of the asset manager’s stock valued at $19,868,000 after purchasing an additional 5,854 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.