Blackstone Inc. [NYSE: BX] gained 1.09% or 0.98 points to close at $91.23 with a heavy trading volume of 7357263 shares. The company report on June 10, 2022 that Advarra, Leading Provider of Life Sciences R&D Compliance and Technology Solutions, Secures Major Investment from Blackstone and CPP Investments.
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Investment will support next growth phase in Advarra’s journey to make clinical research safer, smarter, and faster.
Advarra, a leading provider of regulatory, quality, and compliance solutions and clinical trial technologies in the life sciences sector, today announced that private equity funds managed by Blackstone (“Blackstone”) and Canada Pension Plan Investment Board (“CPP Investments”) have signed a definitive agreement to make a majority investment in Advarra. The investment includes significant continued equity participation from Genstar Capital and Linden Capital Partners, current shareholders, and management. Blackstone is investing in Advarra through its core private equity strategy, which invests in high-quality companies for longer periods than traditional private equity.
It opened the trading session at $92.50, the shares rose to $93.70 and dropped to $91.13, the range by which the price of stock traded the whole day. The daily chart for BX points out that the company has recorded -25.99% loss over the past six months. However, it is still -4.39% lower than its most recent low trading price.
If we look at the average trading volume of 4.88M shares, BX reached to a volume of 7357263 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $147.08 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.
Exane BNP Paribas have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. 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 $135, while Wells Fargo analysts kept a Equal Weight rating on BX stock.
The Average True Range (ATR) for Blackstone Inc. is set at 5.39, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 4.90. The Price to Book ratio for the last quarter was 6.94, with the Price to Cash per share for the same quarter was set at 3.30.
Trading performance analysis for BX stock
Blackstone Inc. [BX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.45. With this latest performance, BX shares dropped by -12.77% in over the last four-week period, additionally sinking by -25.99% over the last 6 months – not to mention a drop of -7.20% 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 32.91, with the RSI for the last a single of trading hit 26.84, and the three-weeks RSI is set at 36.84 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 108.42, while it was recorded at 92.68 for the last single week of trading, and 122.72 for the last 200 days.
Blackstone Inc. [BX]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Blackstone Inc. [BX] shares currently have an operating margin of +109.08 and a Gross Margin at +98.91. Blackstone Inc.’s Net Margin is presently recorded at +46.52.
Return on Equity for this stock inclined to 72.88, with Return on Assets sitting at 17.36.
Blackstone Inc. [BX]: An earnings per share (EPS) analysis
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 19.80%.
An analysis of insider ownership at Blackstone Inc. [BX]
There are presently around $39,977 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 44,984,296, which is approximately 12.641% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 38,236,401 shares of the stock with an approximate value of $3.45 billion in BX stocks shares; and MORGAN STANLEY, currently with $1.8 billion in BX stock with ownership of nearly -4.579% of the company’s market capitalization.
Positions in Blackstone Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 872 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 52,497,265 shares. Additionally, 656 investors decreased positions by around 42,013,469 shares, while 272 investors held positions by with 348,443,644 shares. The mentioned changes placed institutional holdings at 442,954,378 shares, according to the latest SEC report filing. BX stock had 161 new institutional investments in for a total of 23,036,856 shares, while 110 institutional investors sold positions of 7,424,776 shares during the same period.