Madison Park Capital Advisors LLC Boosts Holdings in Blackstone Inc. (NYSE:BX)

Madison Park Capital Advisors LLC lifted its stake in Blackstone Inc. (NYSE:BX) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,955 shares of the asset manager’s stock after buying an additional 138 shares during the period. Blackstone makes up 2.3% of Madison Park Capital Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Madison Park Capital Advisors LLC’s holdings in Blackstone were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BX. Bangor Savings Bank grew its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC purchased a new position in Blackstone during the 3rd quarter worth $27,000. Kieckhefer Group LLC purchased a new position in Blackstone during the 4th quarter worth $39,000. Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Blackstone by 57.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Evercore ISI raised their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

NYSE:BX opened at $181.52 on Wednesday. The firm has a 50 day simple moving average of $180.68 and a 200-day simple moving average of $159.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $131.06 billion, a PE ratio of 62.38, a P/E/G ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone 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.