The stock of Blackstone Group LP (NYSE:BX) is a huge mover today! About 2.63 million shares traded hands. Blackstone Group LP (NYSE:BX) has declined 10.78% since April 18, 2016 and is downtrending. It has underperformed by 15.21% the S&P500.
The move comes after 5 months positive chart setup for the $32.27 billion company. It was reported on Nov, 18 by Barchart.com. We have $43.43 PT which if reached, will make NYSE:BX worth $20.98 billion more.
Blackstone Group LP (NYSE:BX) Ratings Coverage
Out of 14 analysts covering The Blackstone Group L.P. (NYSE:BX), 9 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 64% are positive. The Blackstone Group L.P. has been the topic of 40 analyst reports since August 9, 2015 according to StockzIntelligence Inc. As per Friday, March 11, the company rating was downgraded by Deutsche Bank. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, August 9. Barclays Capital maintained Blackstone Group LP (NYSE:BX) on Tuesday, August 11 with “Overweight” rating. The firm has “Neutral” rating by Bank of America given on Tuesday, December 8. The firm has “Hold” rating by Standpoint Research given on Sunday, August 9. Argus Research maintained the stock with “Buy” rating in Tuesday, October 27 report. As per Thursday, October 13, the company rating was maintained by Barclays Capital. Goldman Sachs initiated it with “Buy” rating and $43 target price in Tuesday, August 11 report. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, October 22. Oppenheimer upgraded the stock to “Outperform” rating in Friday, October 16 report.
According to Zacks Investment Research, “Blackstone is one of the world’s leading investment and advisory firms. Their alternative asset management businesses include the management of corporate private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.”
Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.31, from 0.97 in 2016Q1. The ratio increased, as 55 funds sold all Blackstone Group LP shares owned while 135 reduced positions. 31 funds bought stakes while 153 increased positions. They now own 266.64 million shares or 0.80% more from 264.53 million shares in 2016Q1.
Glenmede Tru Na has invested 0% of its portfolio in Blackstone Group LP (NYSE:BX). Paradigm Fin Advsrs Limited Liability has 29,405 shares for 0.44% of their US portfolio. Arrow Fincl Corp last reported 700 shares in the company. The New York-based Carret Asset Mgmt Lc has invested 0.07% in Blackstone Group LP (NYSE:BX). Neuberger Berman Grp Limited Liability, a New York-based fund reported 888,525 shares. Ameriprise has invested 0.04% of its portfolio in Blackstone Group LP (NYSE:BX). Fifth Third National Bank & Trust owns 34,575 shares or 0.01% of their US portfolio. Lowe Brockenbrough And Co Inc owns 9,282 shares or 0.04% of their US portfolio. Silvercrest Asset Mgmt Limited Liability Company has 33,834 shares for 0.01% of their US portfolio. The Texas-based Ray Gerald L & Limited has invested 0.11% in Blackstone Group LP (NYSE:BX). Commerzbank Aktiengesellschaft Fi holds 825,609 shares or 0.14% of its portfolio. Franklin reported 84,260 shares or 0% of all its holdings. Financial Architects has invested 0.09% of its portfolio in Blackstone Group LP (NYSE:BX). Dorsey Whitney Co Ltd Liability Corp holds 0.08% or 13,576 shares in its portfolio. North Star Investment last reported 144,912 shares in the company.
Insider Transactions: Since August 15, 2016, the stock had 0 buys, and 2 insider sales for $611,435 net activity. Shares for $304,865 were sold by SKERO KATHLEEN on Wednesday, September 7.
More news for Blackstone Group LP (NYSE:BX) were recently published by: Bloomberg.com, which released: “Blackstone Tops Third-Quarter Estimates on Real Estate Sales” on October 27, 2016. Wsj.com‘s article titled: “Blackstone to Acquire Team Health for About $3.2 Billion” and published on October 31, 2016 is yet another important article.
BX Company Profile
The Blackstone Group L.P. (Blackstone), incorporated on March 12, 2007, 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. The Company’s divisions include Private Equity, Real Estate, Hedge Fund Solutions and Credit.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.