In yesterday’s Wall Street session, Blackstone Inc (NYSE:BX) shares traded at $127.88, down -2.61% from the previous session.
BX stock price is now 2.92% away from the 50-day moving average and 11.82% away from the 200-day moving average. The market capitalization of the company currently stands at $154.61B.
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With the price target reduced from $140 to $135, UBS Downgraded its rating from Buy to Neutral for Blackstone Inc (NYSE: BX). On January 19, 2024, Citigroup Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock increasing its target price from $116 to quote $124, while ‘Oppenheimer’ rates the stock as ‘Perform’
In other news, Porat Ruth, Director bought 219 shares of the company’s stock on May 06 ’24. The stock was bought for $26,192 at an average price of $119.48. Upon completion of the transaction, the Director now directly owns 34,445 shares in the company, valued at $4.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 06 ’24, Director Porat Ruth bought 58 shares of the business’s stock. A total of $6,929 was incurred on buying the stock at an average price of $119.95. This leaves the insider owning 8,406 shares of the company worth $1.07 million. A total of 41.51% of the company’s stock is owned by insiders.
During the past 12 months, Blackstone Inc has had a low of $78.97 and a high of $133.08.
The net profit margin was 20.80% and return on equity was 30.65% for BX. The company reported revenue of $3.69 billion for the quarter, compared to $1.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 166.88 percent.
Blackstone Inc(BX) Company Profile
Blackstone Inc. is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia. The firm’s corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts,special situations, distressed mortgage loans, mid-cap buyouts, buy and build platforms, which involves multiple acquisitions behind a single management team and platform, and growth equity/development projects involving significant majority stakes in portfolio companies and minority investments in operating companies, shipping, real estate, corporate or consumer loans, and alternative energy greenfield development projects in energy and power, property, dislocated markets, shipping opportunities, financial institution breakups, re-insurance, and improving freight mobility, financial services, healthcare, life sciences, infrastructure, enterprise tech and consumer, as well as consumer technologies. The firm considers investment in Asia and Latin America. It seeks to invest between $0.25 million and $900 million per transaction. It invests in companies with enterprise value between $500 million and $5000 million. It has a three year investment period. Its hedge fund business manages a broad range of commingled and customized fund solutions and its credit business focuses on loans, and securities of non-investment grade companies spread across the capital structure including senior debt, subordinated debt, preferred stock and common equity. Blackstone Inc. was founded in 1985 and is headquartered in New York, New York with additional offices across Asia, Europe, North America and Central America.
