Rheos Capital Works Inc. Acquires 21,000 Shares of Blackstone Inc. (NYSE:BX)

Rheos Capital Works Inc. raised its stake in Blackstone Inc. (NYSE:BX) by 25.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 103,000 shares of the asset manager’s stock after buying an additional 21,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Blackstone were worth $15,772,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at about $27,000. Chilton Capital Management LLC purchased a new position in Blackstone in the first quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the second quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone in the 2nd quarter worth $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone in the second quarter valued at about $29,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen increased their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $137.47.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the firm’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 value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the 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 transaction, the insider now 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. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 2.2 %

BX stock opened at $159.71 on Thursday. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $114.14 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a fifty day moving average price of $145.40 and a 200 day moving average price of $132.67.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s revenue was up 166.9% on a year-over-year basis. Sell-side analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone 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.