Insider Buying: Blackstone Group LP (NYSE:BX) Major Shareholder Buys 250,000 Shares of Stock

Blackstone Group LP (NYSE:BX) major shareholder Lifesciences Iii L.P. Clarus bought 250,000 shares of Blackstone Group stock in a transaction on Tuesday, September 29th. The stock was acquired at an average price of $16.00 per share, with a total value of $4,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lifesciences Iii L.P. Clarus also recently made the following trade(s):

  • On Tuesday, July 28th, Lifesciences Iii L.P. Clarus bought 200,000 shares of Blackstone Group stock. The stock was acquired at an average price of $17.00 per share, with a total value of $3,400,000.00.

BX stock traded up $1.31 on Thursday, reaching $53.51. 2,531,358 shares of the company were exchanged, compared to its average volume of 4,759,922. Blackstone Group LP has a 12 month low of $33.00 and a 12 month high of $64.97. The stock’s fifty day moving average price is $52.58 and its 200 day moving average price is $52.07. The firm has a market capitalization of $35.91 billion, a PE ratio of 49.09 and a beta of 1.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.10 and a quick ratio of 1.10.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $1.16 billion. Blackstone Group had a net margin of 27.93% and a return on equity of 14.38%. Blackstone Group’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, research analysts expect that Blackstone Group LP will post 2.01 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Blackstone Group from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. William Blair restated an “outperform” rating on shares of Blackstone Group in a research note on Thursday, July 23rd. Deutsche Bank reduced their price objective on shares of Blackstone Group from $50.00 to $49.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Morgan Stanley boosted their price objective on shares of Blackstone Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Credit Suisse Group boosted their price objective on shares of Blackstone Group from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Blackstone Group currently has an average rating of “Buy” and a consensus price target of $60.95.

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Blackstone Group by 69.4% during the first quarter. Wellington Management Group LLP now owns 26,841,950 shares of the asset manager’s stock worth $1,223,190,000 after purchasing an additional 10,996,707 shares during the period. Capital International Investors lifted its stake in Blackstone Group by 16.2% during the first quarter. Capital International Investors now owns 15,799,469 shares of the asset manager’s stock worth $719,982,000 after purchasing an additional 2,199,153 shares during the period. Cryder Capital Partners LLP bought a new position in Blackstone Group during the second quarter worth about $81,533,000. Laidlaw Wealth Management LLC lifted its stake in Blackstone Group by 6,709.9% during the second quarter. Laidlaw Wealth Management LLC now owns 1,396,497 shares of the asset manager’s stock worth $25,000 after purchasing an additional 1,375,990 shares during the period. Finally, Sound Shore Management Inc CT bought a new position in Blackstone Group during the second quarter worth about $54,803,000. Institutional investors and hedge funds own 59.47% of the company’s stock.

About Blackstone Group

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.

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Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

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