The Blackstone Group Inc. [NYSE: BX] stock went on an upward path that rose over 1.27% on Tuesday, amounting to a one-week price increase of more than 0.21%. The company report on October 29, 2020 that Blackstone to Present at the Bank of America Securities 2020 Future of Financials Conference.
Blackstone (NYSE:BX) announced today that Jon Gray, President and Chief Operating Officer, is scheduled to present virtually at the Bank of America Securities 2020 Future of Financials Conference on November 10, 2020 at 12:30 pm ET.
A live webcast of the presentation will be available on the Shareholders section of Blackstone’s website at http://ir.blackstone.com. For those unable to listen to the live webcast, a replay will be available on Blackstone’s website shortly after the event.
Over the last 12 months, BX stock dropped by -2.22%. The one-year The Blackstone Group Inc. stock forecast points to a potential upside of 15.86. The average equity rating for BX stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $63.12 billion, with 698.53 million shares outstanding and 690.37 million shares in the current float. Compared to the average trading volume of 2.80M shares, BX stock reached a trading volume of 2774681 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on The Blackstone Group Inc. [BX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $61.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for The Blackstone Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 29, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on June 25, 2020, representing the official price target for The Blackstone Group Inc. stock.
The Average True Range (ATR) for The Blackstone Group Inc. is set at 1.34, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 19.32. The Price to Book ratio for the last quarter was 6.42, with the Price to Cash per share for the same quarter was set at 1.91. Price to Free Cash Flow for BX in the course of the last twelve months was 98.78.
BX Stock Performance Analysis:
The Blackstone Group Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.21. With this latest performance, BX shares dropped by -4.25% in over the last four-week period, additionally plugging by 1.54% over the last 6 months – not to mention a drop of -2.22% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BX stock in for the last two-week period is set at 43.90, with the RSI for the last a single of trading hit 43.65, and the three-weeks RSI is set at 45.42 for The Blackstone Group Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 53.07, while it was recorded at 51.00 for the last single week of trading, and 53.54 for the last 200 days.
Insight into The Blackstone Group Inc. Fundamentals:
BX Stock EPS
With the latest financial reports released by the company, The Blackstone Group Inc. posted 0.72/share EPS, while the average EPS was predicted by analysts to be reported at 0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Blackstone Group Inc. go to 13.75%.
The Blackstone Group Inc. [BX] Insider Position Details
There are presently around $20,564 million, or 65.00% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 38,917,680, which is approximately 0.805% of the company’s market cap and around 0.20% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 38,163,821 shares of the stock with an approximate value of $1.98 billion in BX stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.28 billion in BX stock with ownership of nearly -19.491% of the company’s market capitalization.
481 institutional holders increased their position in The Blackstone Group Inc. [NYSE:BX] by around 50,456,693 shares. Additionally, 448 investors decreased positions by around 32,083,669 shares, while 159 investors held positions by with 313,064,580 shares. The mentioned changes placed institutional holdings at 395,604,942 shares, according to the latest SEC report filing. BX stock had 94 new institutional investments in for a total of 6,928,372 shares, while 87 institutional investors sold positions of 4,463,258 shares during the same period.