Blackstone Group L.P. (BX) Position Raised by Calamos Advisors LLC
Calamos Advisors LLC boosted its position in Blackstone Group L.P. (NYSE:BX) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,378 shares of the company’s stock after buying an additional 3,962 shares during the period. Calamos Advisors LLC’s holdings in Blackstone Group L.P. were worth $1,752,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Adirondack Trust Co. raised its position in Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock worth $128,000 after buying an additional 36 shares during the period. Mariner Wealth Advisors LLC raised its position in Blackstone Group L.P. by 2.9% in the first quarter. Mariner Wealth Advisors LLC now owns 7,210 shares of the company’s stock worth $202,000 after buying an additional 200 shares during the period. F&V Capital Management LLC raised its position in Blackstone Group L.P. by 2.1% in the second quarter. F&V Capital Management LLC now owns 10,975 shares of the company’s stock worth $269,000 after buying an additional 230 shares during the period. First National Bank Sioux Falls increased its stake in shares of Blackstone Group L.P. by 5.9% in the second quarter. First National Bank Sioux Falls now owns 6,676 shares of the company’s stock worth $164,000 after buying an additional 374 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Blackstone Group L.P. by 7.3% in the first quarter. Stratos Wealth Partners LTD. now owns 11,254 shares of the company’s stock worth $316,000 after buying an additional 765 shares in the last quarter. Institutional investors own 49.03% of the company’s stock.
Blackstone Group L.P. (NYSE:BX) traded down 0.40% on Tuesday, hitting $25.09. The stock had a trading volume of 3,674,067 shares. The company has a market cap of $15.76 billion, a P/E ratio of 52.93 and a beta of 1.57. Blackstone Group L.P. has a 52-week low of $22.31 and a 52-week high of $35.24. The stock’s 50-day moving average is $26.59 and its 200-day moving average is $26.53.
Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a net margin of 15.50% and a return on equity of 6.15%. The business earned $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Analysts expect that Blackstone Group L.P. will post $2.08 earnings per share for the current year.
A number of brokerages have weighed in on BX. Zacks Investment Research raised Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday. Vetr downgraded Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.22 target price on the stock. in a report on Wednesday, September 21st. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $35.00 target price on shares of Blackstone Group L.P. in a report on Monday, September 19th. Barclays PLC raised their target price on Blackstone Group L.P. from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, Jefferies Group raised their target price 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. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.95.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total transaction of $304,865.00. Following the completion of the sale, the insider now directly owns 42,967 shares in the company, valued at $1,139,055.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
About Blackstone Group L.P.
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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