Blackstone Group L.P. (NYSE:BX) saw unusually-strong trading volume on Tuesday . Approximately 3,758,294 shares changed hands during trading, a decline of 16% from the previous session’s volume of 4,464,062 shares.The stock last traded at $23.41 and had previously closed at $24.50.

Several equities analysts have weighed in on BX shares. JPMorgan Chase & Co. dropped their price target on Blackstone Group L.P. from $38.00 to $35.00 in a research report on Tuesday, March 29th. Deutsche Bank AG downgraded Blackstone Group L.P. from a “buy” rating to a “hold” rating and lowered their price objective for the company from $30.00 to $28.00 in a research report on Friday, March 11th. They noted that the move was a valuation call. Zacks Investment Research raised Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, April 4th. Vetr raised Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $32.04 price objective for the company in a research report on Monday, April 25th. Finally, TheStreet raised Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research report on Tuesday, March 15th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Blackstone Group L.P. presently has a consensus rating of “Buy” and an average target price of $35.05.

The firm has a market cap of $14.70 billion and a price-to-earnings ratio of 65.36. The company has a 50-day moving average of $25.41 and a 200-day moving average of $26.66.

Blackstone Group L.P. (NYSE:BX) last released its earnings results on Thursday, April 21st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.06. The firm earned $929.45 million during the quarter, compared to the consensus estimate of $955.75 million. During the same period in the prior year, the firm earned $1.37 EPS. The firm’s quarterly revenue was down 63.0% on a year-over-year basis. On average, equities analysts forecast that Blackstone Group L.P. will post $2.32 EPS for the current year.

Several institutional investors recently bought and sold shares of BX. Marshall Wace LLP bought a new position in Blackstone Group L.P. during the fourth quarter worth $1,009,000. Atlantic Trust Group LLC increased its position in Blackstone Group L.P. by 2.2% in the fourth quarter. Atlantic Trust Group LLC now owns 35,117 shares of the company’s stock worth $1,026,000 after buying an additional 744 shares during the period. Highlander Capital Management LLC increased its position in Blackstone Group L.P. by 50.4% in the fourth quarter. Highlander Capital Management LLC now owns 35,800 shares of the company’s stock worth $1,047,000 after buying an additional 12,000 shares during the period. ProVise Management Group LLC increased its position in Blackstone Group L.P. by 23.9% in the fourth quarter. ProVise Management Group LLC now owns 43,555 shares of the company’s stock worth $1,273,000 after buying an additional 8,400 shares during the period. Finally, Agran Libbie increased its position in Blackstone Group L.P. by 4.3% in the fourth quarter. Agran Libbie now owns 47,575 shares of the company’s stock worth $1,391,000 after buying an additional 1,950 shares during the period.

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.

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