The Blackstone Group Inc. [NYSE: BX] stock went on an upward path that rose over 1.22% on Wednesday, amounting to a one-week price increase of more than 5.21%. The company report on May 25, 2021 that Blackstone to Present at Morgan Stanley’s Virtual Financials, Payments and CRE Conference.
Blackstone (NYSE:BX) announced that Michael Chae, Chief Financial Officer, is scheduled to present at Morgan Stanley’s Virtual Financials, Payments and CRE Conference on Tuesday, June 15, 2021 at 1:15 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 audio webcast, a replay will be available on Blackstone’s website shortly after the event.
Over the last 12 months, BX stock rose by 63.16%. The one-year The Blackstone Group Inc. stock forecast points to a potential downside of -0.56. The average equity rating for BX stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $108.19 billion, with 709.03 million shares outstanding and 665.64 million shares in the current float. Compared to the average trading volume of 3.22M shares, BX stock reached a trading volume of 2988063 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 $91.61 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 2.20. 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 Perform, with their previous recommendation back on March 19, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on January 14, 2021, representing the official price target for The Blackstone Group Inc. stock. Previously, the target price had yet another raise to $58, while Oppenheimer analysts kept a Outperform rating on BX stock.
The Average True Range (ATR) for The Blackstone Group Inc. is set at 1.90, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 7.47. The Price to Book ratio for the last quarter was 8.33, with the Price to Cash per share for the same quarter was set at 2.53. Price to Free Cash Flow for BX in the course of the last twelve months was 427.14.
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 5.21. With this latest performance, BX shares gained by 3.98% in over the last four-week period, additionally plugging by 55.85% over the last 6 months – not to mention a rise of 63.16% 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 70.82, with the RSI for the last a single of trading hit 72.78, and the three-weeks RSI is set at 70.11 for The Blackstone Group Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 82.08, while it was recorded at 90.85 for the last single week of trading, and 65.63 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 0.43/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. 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 18.45%.
The Blackstone Group Inc. [BX] Insider Position Details
There are presently around $38,352 million, or 64.00% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 38,475,108, which is approximately 3.23% of the company’s market cap and around 0.70% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 37,510,067 shares of the stock with an approximate value of $3.46 billion in BX stocks shares; and BLACKROCK INC., currently with $2.14 billion in BX stock with ownership of nearly 15.638% of the company’s market capitalization.
612 institutional holders increased their position in The Blackstone Group Inc. [NYSE:BX] by around 28,456,884 shares. Additionally, 457 investors decreased positions by around 27,696,431 shares, while 202 investors held positions by with 360,174,074 shares. The mentioned changes placed institutional holdings at 416,327,389 shares, according to the latest SEC report filing. BX stock had 140 new institutional investments in for a total of 6,664,741 shares, while 69 institutional investors sold positions of 2,245,008 shares during the same period.