Proficio Capital Partners LLC continued to hold its position in shares of Blackstone Group L.P. (NYSE:BX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,745 shares of the company’s stock at the end of the second quarter. Proficio Capital Partners LLC’s holdings in Blackstone Group L.P. were worth $749,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacad Investment Ltd. acquired a new position in shares of Blackstone Group L.P. during the first quarter worth about $281,000. 1832 Asset Management L.P. increased its position in shares of Blackstone Group L.P. by 5,247.8% in the first quarter. 1832 Asset Management L.P. now owns 61,500 shares of the company’s stock worth $2,892,000 after buying an additional 60,350 shares during the last quarter. Scotia Capital Inc. increased its position in shares of Blackstone Group L.P. by 66.8% in the first quarter. Scotia Capital Inc. now owns 137,035 shares of the company’s stock worth $3,848,000 after buying an additional 54,864 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Blackstone Group L.P. by 571.8% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,510 shares of the company’s stock worth $407,000 after buying an additional 12,350 shares during the last quarter. Finally, Barr E S & Co. increased its position in shares of Blackstone Group L.P. by 12.8% in the first quarter. Barr E S & Co. now owns 555,776 shares of the company’s stock worth $15,590,000 after buying an additional 63,259 shares during the last quarter. 49.05% of the stock is currently owned by hedge funds and other institutional investors.
Blackstone Group L.P. (NYSE:BX) traded down 0.68% during trading on Monday, reaching $23.52. The company’s stock had a trading volume of 3,626,891 shares. The stock has a 50-day moving average of $25.75 and a 200 day moving average of $26.38. The firm has a market capitalization of $14.77 billion, a P/E ratio of 49.62 and a beta of 1.57. Blackstone Group L.P. has a one year low of $22.31 and a one year high of $34.71.
Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The company earned $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Blackstone Group L.P. will post $2.06 EPS for the current fiscal year.
A number of research analysts have recently issued reports on BX shares. Vetr downgraded Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $28.90 price target on the stock. in a report on Thursday, June 23rd. Barclays PLC lowered their price target on Blackstone Group L.P. from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Keefe, Bruyette & Woods lowered their target price on Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, July 11th. Deutsche Bank AG reissued a “hold” rating on shares of Blackstone Group L.P. in a report on Sunday, July 10th. Finally, Bank of America Corp. reissued a “hold” rating on shares of Blackstone Group L.P. in a report on Friday, July 22nd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Blackstone Group L.P. has a consensus rating of “Buy” and a consensus price target of $33.84.
In other news, insider Kathleen Skero sold 11,500 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the completion of the transaction, the insider now owns 42,967 shares of the company’s stock, valued at approximately $1,139,055.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.
Blackstone Group L.P. Company Profile
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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