Blackstone (NYSE:BX) Major Shareholder Bx Buzz Ml-1 Gp Llc Sells 7,477,500 Shares of Stock

Blackstone Inc. (NYSE:BX) major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This represents a 99.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Blackstone Trading Down 1.0%

Shares of Blackstone stock opened at $123.78 on Friday. The company has a 50-day moving average of $120.98 and a two-hundred day moving average of $130.40. The stock has a market cap of $91.95 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.7%. Blackstone’s dividend payout ratio is 118.67%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth $30,000. Strive Asset Management LLC acquired a new position in Blackstone in the third quarter valued at $30,000. Family CFO Inc purchased a new stake in Blackstone in the 4th quarter valued at about $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $28,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Blackstone in the fourth quarter worth approximately $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of several recent research reports. UBS Group decreased their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Barclays lowered their price target on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. TD Cowen cut their price objective on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $150.86.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.