Blackstone Group (NYSE:BX) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They presently have a $35.50 target price on the asset manager’s stock. Vetr‘s target price suggests a potential upside of 10.45% from the stock’s previous close.
A number of other research firms have also recently commented on BX. BidaskClub cut shares of Blackstone Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Credit Suisse Group dropped their target price on shares of Blackstone Group from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Zacks Investment Research cut shares of Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Oppenheimer reissued a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Finally, Bank of America increased their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.25.
Shares of Blackstone Group (NYSE BX) opened at $32.14 on Monday. Blackstone Group has a 52-week low of $26.20 and a 52-week high of $35.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $38,930.00, a PE ratio of 11.36, a P/E/G ratio of 0.57 and a beta of 1.37.
Several institutional investors have recently added to or reduced their stakes in BX. Jacobi Capital Management LLC acquired a new position in shares of Blackstone Group in the second quarter valued at approximately $116,000. Wealthcare Advisory Partners LLC acquired a new stake in Blackstone Group during the 3rd quarter valued at approximately $131,000. Omnia Family Wealth LLC increased its position in Blackstone Group by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 20 shares during the period. Pathstone Family Office LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at approximately $167,000. Finally, Peddock Capital Advisors LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at approximately $187,000. 46.91% of the stock is owned by institutional investors.
Blackstone Group Company Profile
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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