Green Square Capital LLC Cuts Position in Blackstone Group LP (BX)

Green Square Capital LLC reduced its position in Blackstone Group LP (NYSE:BX) by 19.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,931 shares of the asset manager’s stock after selling 4,915 shares during the period. Green Square Capital LLC’s holdings in Blackstone Group were worth $638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Addison Capital Co raised its position in shares of Blackstone Group by 23.8% in the 4th quarter. Addison Capital Co now owns 7,645 shares of the asset manager’s stock worth $245,000 after buying an additional 1,470 shares during the period. Wasatch Advisors Inc. increased its holdings in Blackstone Group by 1.4% in the 4th quarter. Wasatch Advisors Inc. now owns 109,112 shares of the asset manager’s stock valued at $3,494,000 after purchasing an additional 1,500 shares in the last quarter. Perkins Capital Management Inc. increased its holdings in Blackstone Group by 5.3% in the 4th quarter. Perkins Capital Management Inc. now owns 29,650 shares of the asset manager’s stock valued at $949,000 after purchasing an additional 1,500 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its holdings in Blackstone Group by 8.1% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 20,974 shares of the asset manager’s stock valued at $697,000 after purchasing an additional 1,577 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in Blackstone Group by 3.6% in the 3rd quarter. Independent Advisor Alliance now owns 47,727 shares of the asset manager’s stock valued at $1,587,000 after purchasing an additional 1,662 shares in the last quarter. 48.37% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Blackstone Group stock opened at $31.88 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market capitalization of $21,011.72, a PE ratio of 11.35, a PEG ratio of 1.08 and a beta of 1.33. Blackstone Group LP has a 52 week low of $28.85 and a 52 week high of $37.52.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.73 billion. Blackstone Group had a return on equity of 22.27% and a net margin of 20.66%. The company’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. sell-side analysts predict that Blackstone Group LP will post 3.11 EPS for the current fiscal year.

Several brokerages recently issued reports on BX. Vetr downgraded Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price target for the company. in a report on Monday, December 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 price target on shares of Blackstone Group in a report on Thursday, February 1st. ValuEngine upgraded Blackstone Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. downgraded Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $39.90.

In other Blackstone Group news, major shareholder Group L.P. Blackstone bought 25,466 shares of the stock in a transaction dated Tuesday, December 26th. The stock was bought at an average cost of $28.61 per share, for a total transaction of $728,582.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 22,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $34.15, for a total value of $751,300.00. Following the sale, the insider now owns 133,003 shares of the company’s stock, valued at $4,542,052.45. The disclosure for this sale can be found here. Insiders have sold 672,000 shares of company stock valued at $23,130,874 over the last 90 days. Insiders own 1.00% of the company’s stock.

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Blackstone Group 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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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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