Blackstone Inc. [BX] fell -8.97% so far this year. What now?



Blackstone Inc. [NYSE: BX] stock went on a downward path that fall over -5.72% on Wednesday, amounting to a one-week price decrease of less than -8.34%. The company report on January 4, 2022 that Westbrook Inc. Announces Strategic Minority Investment from Candle Media, Next-Generation Media Company Backed by Kevin Mayer, Tom Staggs, and Blackstone.

Candle Media (“Candle”), the next-generation media company run by leading entertainment executives Kevin Mayer and Tom Staggs and backed by investment capital from Blackstone, today announced a strategic minority investment in Westbrook Inc., the media company founded by Jada Pinkett Smith, Will Smith, Miguel Melendez and Ko Yada, focused on empowering artists to tell stories that connect the world. Terms of the transaction were not disclosed.

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Over the last 12 months, BX stock rose by 91.03%. The one-year Blackstone Inc. stock forecast points to a potential upside of 21.73. The average equity rating for BX stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $140.16 billion, with 722.23 million shares outstanding and 654.88 million shares in the current float. Compared to the average trading volume of 3.61M shares, BX stock reached a trading volume of 6266273 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Blackstone Inc. [BX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $150.50 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 2.10. 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.

BofA Securities have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 16, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on December 16, 2021, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another raise to $182, while BofA Securities analysts kept a Buy rating on BX stock. On August 11, 2021, analysts increased their price target for BX shares from 103 to 135.

The Average True Range (ATR) for Blackstone Inc. is set at 5.07, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 6.86. The Price to Book ratio for the last quarter was 9.39, with the Price to Cash per share for the same quarter was set at 4.31. Price to Free Cash Flow for BX in the course of the last twelve months was 120.64.

BX Stock Performance Analysis:

Blackstone Inc. [BX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.34. With this latest performance, BX shares dropped by -12.57% in over the last four-week period, additionally plugging by 19.88% over the last 6 months – not to mention a rise of 91.03% 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 33.60, with the RSI for the last a single of trading hit 27.99, and the three-weeks RSI is set at 37.53 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 136.65, while it was recorded at 125.45 for the last single week of trading, and 111.83 for the last 200 days.

BX Stock EPS

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 Blackstone Inc. go to 29.17%.

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Blackstone Inc. [BX] Insider Position Details

There are presently around $53,009 million, or 62.80% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 39,835,258, which is approximately 1.247% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 30,436,641 shares of the stock with an approximate value of $3.8 billion in BX stocks shares; and MORGAN STANLEY, currently with $2.42 billion in BX stock with ownership of nearly -5.334% of the company’s market capitalization.

Positions in Blackstone Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 680 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 20,602,777 shares. Additionally, 592 investors decreased positions by around 31,713,114 shares, while 229 investors held positions by with 371,962,379 shares. The mentioned changes placed institutional holdings at 424,278,270 shares, according to the latest SEC report filing. BX stock had 185 new institutional investments in for a total of 4,124,181 shares, while 55 institutional investors sold positions of 1,380,501 shares during the same period.