Narwhal Capital Management Buys 13,580 Shares of Blackstone Group L.P. (BX)
Narwhal Capital Management increased its stake in Blackstone Group L.P. (NYSE:BX) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,305 shares of the company’s stock after buying an additional 13,580 shares during the period. Narwhal Capital Management’s holdings in Blackstone Group L.P. were worth $2,412,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Community Bank & Trust Waco Texas increased its position in shares of Blackstone Group L.P. by 2.4% in the first quarter. Community Bank & Trust Waco Texas now owns 76,611 shares of the company’s stock valued at $2,149,000 after buying an additional 1,770 shares during the period. Factory Mutual Insurance Co. increased its stake in Blackstone Group L.P. by 3.0% in the first quarter. Factory Mutual Insurance Co. now owns 2,044,600 shares of the company’s stock worth $57,351,000 after buying an additional 60,000 shares during the last quarter. Sanders Morris Harris Inc. bought a new stake in Blackstone Group L.P. during the first quarter worth $1,244,000. Sii Investments Inc. WI increased its stake in Blackstone Group L.P. by 15.4% in the first quarter. Sii Investments Inc. WI now owns 52,951 shares of the company’s stock worth $1,480,000 after buying an additional 7,054 shares during the last quarter. Finally, Investment Centers of America Inc. increased its stake in Blackstone Group L.P. by 14.4% in the first quarter. Investment Centers of America Inc. now owns 35,413 shares of the company’s stock worth $997,000 after buying an additional 4,453 shares during the last quarter. Institutional investors own 49.02% of the company’s stock.
Blackstone Group L.P. (NYSE:BX) traded up 1.50% during midday trading on Wednesday, hitting $26.35. 2,577,098 shares of the company were exchanged. The firm has a market capitalization of $16.55 billion, a PE ratio of 55.59 and a beta of 1.58. Blackstone Group L.P. has a 1-year low of $22.31 and a 1-year high of $35.24. The stock has a 50 day moving average of $27.12 and a 200 day moving average of $26.70.
Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Blackstone Group L.P. had a net margin of 15.50% and a return on equity of 6.15%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. On average, equities analysts predict that Blackstone Group L.P. will post $2.08 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the company. Deutsche Bank AG restated a “hold” rating on shares of Blackstone Group L.P. in a report on Sunday, July 10th. Vetr upgraded Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $31.48 price objective for the company in a report on Monday, July 25th. Keefe, Bruyette & Woods decreased their price objective on Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, July 11th. Jefferies Group increased their price objective on Blackstone Group L.P. from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 26th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $34.19.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total value of $304,865.00. Following the transaction, the insider now owns 42,967 shares in the company, valued at $1,139,055.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
Blackstone Group L.P. Company Profile
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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