Beech Hill Advisors Inc. Sells 1,035 Shares of Blackstone Inc. (NYSE:BX)

Beech Hill Advisors Inc. lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,060 shares of the asset manager’s stock after selling 1,035 shares during the quarter. Blackstone makes up approximately 1.5% of Beech Hill Advisors Inc.’s portfolio, making the stock its 28th largest holding. Beech Hill Advisors Inc.’s holdings in Blackstone were worth $3,837,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BX. Rheos Capital Works Inc. lifted its position in shares of Blackstone by 25.6% during the 3rd quarter. Rheos Capital Works Inc. now owns 103,000 shares of the asset manager’s stock valued at $15,772,000 after buying an additional 21,000 shares during the last quarter. Amplius Wealth Advisors LLC increased its stake in shares of Blackstone by 1.1% in the third quarter. Amplius Wealth Advisors LLC now owns 128,914 shares of the asset manager’s stock worth $19,741,000 after purchasing an additional 1,377 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Blackstone by 125.0% in the third quarter. Vontobel Holding Ltd. now owns 27,688 shares of the asset manager’s stock worth $4,240,000 after purchasing an additional 15,384 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of Blackstone by 7.3% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 11,255 shares of the asset manager’s stock valued at $1,723,000 after buying an additional 769 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its holdings in Blackstone by 2.2% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 92,411 shares of the asset manager’s stock valued at $14,151,000 after acquiring an additional 2,029 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. UBS Group boosted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $137.47.

Blackstone Trading Up 2.2 %

Shares of BX opened at $159.71 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The firm has a 50 day moving average price of $145.40 and a 200-day moving average price of $132.67. The firm has a market cap of $114.14 billion, a price-to-earnings ratio of 56.43, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. As a group, equities research analysts forecast that Blackstone Inc. will post 4.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.