LexAurum Advisors LLC Cuts Stock Position in Blackstone Inc. (NYSE:BX)

LexAurum Advisors LLC cut its stake in Blackstone Inc. (NYSE:BX) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 4,923 shares of the asset manager’s stock after selling 71 shares during the period. LexAurum Advisors LLC’s holdings in Blackstone were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Blackstone by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,267 shares of the asset manager’s stock valued at $11,526,000 after acquiring an additional 1,468 shares during the period. Trust Co. of Vermont lifted its stake in Blackstone by 3.1% during the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after acquiring an additional 67 shares during the period. Riversedge Advisors LLC acquired a new stake in Blackstone during the 3rd quarter valued at approximately $212,000. Naviter Wealth LLC lifted its stake in Blackstone by 6.3% during the 3rd quarter. Naviter Wealth LLC now owns 6,379 shares of the asset manager’s stock valued at $977,000 after acquiring an additional 376 shares during the period. Finally, Rheos Capital Works Inc. lifted its stake in Blackstone by 25.6% during the 3rd quarter. Rheos Capital Works Inc. now owns 103,000 shares of the asset manager’s stock valued at $15,772,000 after acquiring an additional 21,000 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 6.3 %

Shares of BX stock opened at $169.73 on Friday. The company’s 50-day moving average price is $146.19 and its 200-day moving average price is $132.93. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $172.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $121.30 billion, a price-to-earnings ratio of 59.98, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company earned $0.93 EPS. The company’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BX has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Redburn Atlantic initiated coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Finally, TD Cowen boosted their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $137.47.

About Blackstone

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.