The Blackstone Group Inc. [NYSE: BX] plunged by -$1.05 during the normal trading session on Thursday and reaching a high of $117.65 during the day while it closed the day at $115.70. The company report on August 6, 2021 that Blackstone Completes Senior Notes Offering.
Blackstone (NYSE: BX) has completed its previously announced offering of $650 million of 1.625% senior notes due 2028, $800 million of 2.000% senior notes due 2032 and $550 million of 2.850% senior notes due 2051 of Blackstone Holdings Finance Co. L.L.C., its indirect subsidiary. The notes are fully and unconditionally guaranteed by The Blackstone Group Inc. and its indirect subsidiaries Blackstone Holdings I L.P., Blackstone Holdings AI L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. Blackstone intends to use the proceeds from the notes offering for general corporate purposes, which may include, without limitation, to fund a portion of the purchase price for Blackstone’s previously announced acquisition of a 9.9% equity interest in American International Group, Inc.’s life and retirement business.
The notes were offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933.
The Blackstone Group Inc. stock has also loss -0.86% of its value over the past 7 days. However, BX stock has inclined by 30.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 62.98% and gained 78.52% year-on date.
The market cap for BX stock reached $141.47 billion, with 709.03 million shares outstanding. Compared to the average trading volume of 4.03M shares, BX reached a trading volume of 3274613 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 $95.23 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 2.40, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 8.20. The Price to Book ratio for the last quarter was 10.46, with the Price to Cash per share for the same quarter was set at 2.43.
BX stock trade performance evaluation
The Blackstone Group Inc. [BX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.86. With this latest performance, BX shares gained by 17.01% in over the last four-week period, additionally plugging by 62.98% over the last 6 months – not to mention a rise of 118.55% 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 72.64, with the RSI for the last a single of trading hit 72.14, and the three-weeks RSI is set at 72.30 for The Blackstone Group Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 101.12, while it was recorded at 115.61 for the last single week of trading, and 77.42 for the last 200 days.
The Blackstone Group Inc. [BX]: An insightful look at the core fundamentals
Earnings per share (EPS) analysis for The Blackstone Group Inc. [BX] stock
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 20.13%.
The Blackstone Group Inc. [BX]: Insider Ownership positions
There are presently around $48,416 million, or 63.90% 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 0.60% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 37,510,067 shares of the stock with an approximate value of $4.34 billion in BX stocks shares; and BLACKROCK INC., currently with $2.69 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 30,349,843 shares. Additionally, 477 investors decreased positions by around 26,943,339 shares, while 227 investors held positions by with 361,169,540 shares. The mentioned changes placed institutional holdings at 418,462,722 shares, according to the latest SEC report filing. BX stock had 157 new institutional investments in for a total of 6,592,561 shares, while 54 institutional investors sold positions of 1,471,195 shares during the same period.