April 24, 2017

Earnings at the Forefront For The Blackstone Group LP

21 April 2017, 02:46 | Marlene Myers



Caldwell Orkin has invested 1.09% in Blackstone Group LP (NYSE:BX). The forecast of 12 surveyed investment analysts covering the stock advises investors to Buy stake in the company. Advantage Investment Management LLC bought a new position in Blackstone Group during the fourth quarter worth about $111,000. IFC Holdings Incorporated FL now owns 19,253 shares of the company's stock worth $490,000 after buying an additional 268 shares during the period. TCI Wealth Advisors Inc. raised its position in Blackstone Group by 1.3% in the third quarter. Sanders Morris Harris Inc. now owns 143,736 shares of the company's stock worth $4,329,000 after buying an additional 36,044 shares during the period. River & Mercantile Asset Management LLP acquired a new stake in Blackstone Group during the fourth quarter valued at about $2,826,000. HL Financial Services LLC now owns 27,302 shares of the asset manager's stock worth $697,000 after buying an additional 90 shares during the period. Investors purchased 3,656 put options on the company.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 11.14%, and has a solid year to date (YTD) performance of 12.91% which means the stock is constantly adding to its value from the previous fiscal year end price. The Blackstone Group L.P. (NYSE:BX) shares have been recently spotted -3.30% away from the 52-week high, and 41.20% away from the 52-week low mark. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 19.23 and a beta of 1.42.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, January 26th.

The company's expected revenue in the current quarter to be 1.59 Billion, seeing a projected current quarter growth of 119.4%, and per annum growth estimates over the next 5 year period of around 24.91%. Blackstone Group's revenue was up 108.1% on a year-over-year basis. The Renaissance Investment Group Llc holds 143,156 shares with $3.87 million value, up from 130,599 last quarter. During the same period past year, the business posted $0.37 EPS. Blackstone Group also was the target of unusually large options trading activity on Thursday. If you are reading this piece on another site, it was stolen and reposted in violation of worldwide copyright legislation. Standpoint Research maintained the shares of BX in report on Sunday, August 9 with "Hold" rating. Credit Suisse Group AG lifted their price objective on Blackstone Group and gave the company an "outperform" rating in a report on Wednesday, January 4th. The day began at US$29.73 but the price moved to US$29.7 at one point during the trading and finally capitulating to a session high of US$30.35.

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In addition to Vetr Inc. reporting its target price, a total of 14 firms have reported on the stock. Finally, Jefferies Group LLC reaffirmed a "buy" rating on shares of Blackstone Group in a research report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of "Buy" and an average price target of $33.15. The Blackstone Real Estate Partners funds target a range of opportunistic real estate and real estate related investments. The stock had previously closed at $29.15, but opened at $30.06. Commerzbank Aktiengesellschaft FI now owns 825,609 shares of the company's stock valued at $20,260,000 after buying an additional 271,581 shares during the period. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bennett J. Goodman sold 635,075 shares of Blackstone Group stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $30.72, for a total transaction of $614,400.00. Following the completion of the sale, the insider now directly owns 161,556 shares of the company's stock, valued at approximately $4,963,000.32.

Blackstone, whose co-founder and chief executive Stephen Schwarzman is an economic adviser to Trump and chairs his strategic and policy forum, said the sale of assets for top dollar allowed it to pay its second highest quarterly dividend ever, equivalent to 87 cents per common unit.

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager.

The private equity and real estate sales helped fuel $1.23 billion of distributable earnings, which reflect profits on asset disposals and fund management fees, compared with $394.2 million a year earlier.

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