HSBC Issues Pessimistic Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price target cut by research analysts at HSBC from $178.00 to $174.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “hold” rating on the asset manager’s stock. HSBC’s price objective points to a potential upside of 17.64% from the stock’s previous close.

A number of other brokerages have also weighed in on BX. TD Cowen dropped their price objective on Blackstone from $205.00 to $183.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Rothschild & Co Redburn cut their target price on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, January 15th. BNP Paribas Exane dropped their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. JMP Securities reiterated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a report on Friday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $177.05.

Blackstone Stock Performance

BX traded down $0.50 on Wednesday, hitting $147.91. 150,826 shares of the company traded hands, compared to its average volume of 3,565,379. Blackstone has a 12-month low of $115.66 and a 12-month high of $190.09. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $152.79 and a 200-day moving average of $161.18. The stock has a market capitalization of $109.22 billion, a PE ratio of 42.26, a PEG ratio of 1.06 and a beta of 1.75.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 324 shares of Blackstone stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director directly owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at approximately $21,610. This trade represents a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 783,978 shares of company stock valued at $22,058,454. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Hedge funds have recently made changes to their positions in the stock. Davidson Kahn Capital Management LLC raised its holdings in Blackstone by 2.1% in the fourth quarter. Davidson Kahn Capital Management LLC now owns 12,742 shares of the asset manager’s stock valued at $1,964,000 after acquiring an additional 263 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Blackstone by 10.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 590,211 shares of the asset manager’s stock worth $90,895,000 after purchasing an additional 57,304 shares in the last quarter. Breachway Investments LLC acquired a new stake in Blackstone during the fourth quarter valued at approximately $380,000. Michael Brady & Co. LLC bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $231,000. Finally, Evergreen Capital Management LLC increased its stake in Blackstone by 5.4% during the fourth quarter. Evergreen Capital Management LLC now owns 27,859 shares of the asset manager’s stock valued at $4,294,000 after purchasing an additional 1,419 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.