Blackstone Inc. [NYSE: BX] stock went on an upward path that rose over 3.15% on Wednesday, amounting to a one-week price increase of more than 6.49%. The company report on January 10, 2023 that Blackstone Expands Leadership Team in Growing Private Credit Business.
Blackstone (NYSE: BX) today announced that Brad Marshall, who has been leading the firm’s direct lending efforts for nearly 17 years, has been promoted to Global Head of Private Credit Strategies (PCS), adding to his role as Chairman and co-CEO of the firm’s two business development companies (BDCs), Blackstone Private Credit Fund (BCRED) and Blackstone Secured Lending Fund (NYSE: BXSL). Jonathan Bock, formerly the CEO of Barings BDC and a top ranked Equity Analyst at Wells Fargo, has joined the firm to serve alongside Brad as Co-CEO of the firm’s BDCs.
The new leadership roles correspond with the significant expansion of Blackstone Credit, where total assets under management have grown 135% over the past five years to $234 billion. PCS makes up approximately half of Blackstone Credit’s business today and includes the BDCs.
Over the last 12 months, BX stock dropped by -27.29%. The one-year Blackstone Inc. stock forecast points to a potential upside of 12.47. The average equity rating for BX stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $97.43 billion, with 742.35 million shares outstanding and 696.24 million shares in the current float. Compared to the average trading volume of 5.59M shares, BX stock reached a trading volume of 5285337 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 $94.90 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 2.40. 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.
Wells Fargo have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 11, 2023. While these analysts kept the previous recommendation, Barclays dropped their target price from $98 to $90. The new note on the price target was released on December 02, 2022, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another drop from $85.50 to $67.50, while Credit Suisse kept a Underperform rating on BX stock.
The Average True Range (ATR) for Blackstone Inc. is set at 3.08, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 7.75. The Price to Book ratio for the last quarter was 8.13, with the Price to Cash per share for the same quarter was set at 3.05.
BX Stock Performance Analysis:
Blackstone Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.49. With this latest performance, BX shares gained by 5.85% in over the last four-week period, additionally sinking by -8.74% over the last 6 months – not to mention a drop of -27.29% 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 57.44, with the RSI for the last a single of trading hit 66.79, and the three-weeks RSI is set at 52.64 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 84.54, while it was recorded at 80.00 for the last single week of trading, and 97.00 for the last 200 days.
Insight into Blackstone Inc. Fundamentals:
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.
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 9.43%.
Blackstone Inc. [BX] Insider Position Details
There are presently around $36,585 million, or 64.50% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 46,339,020, which is approximately 1.271% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 38,686,042 shares of the stock with an approximate value of $3.21 billion in BX stocks shares; and MORGAN STANLEY, currently with $1.8 billion in BX stock with ownership of nearly 1.653% 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 823 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 28,044,106 shares. Additionally, 622 investors decreased positions by around 21,444,313 shares, while 227 investors held positions by with 390,925,811 shares. The mentioned changes placed institutional holdings at 440,414,230 shares, according to the latest SEC report filing. BX stock had 98 new institutional investments in for a total of 2,440,751 shares, while 123 institutional investors sold positions of 4,468,925 shares during the same period.