Regatta Capital Group LLC Raises Stock Position in Blackstone Inc. (NYSE:BX)

Regatta Capital Group LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,196 shares of the asset manager’s stock after acquiring an additional 160 shares during the quarter. Regatta Capital Group LLC’s holdings in Blackstone were worth $724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BX. Sather Financial Group Inc increased its holdings in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $201,000. Aljian Capital Management LLC bought a new position in Blackstone in the 3rd quarter worth $1,951,000. Icon Wealth Advisors LLC grew its holdings in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after acquiring an additional 36,343 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $186.79 on Friday. The firm has a market capitalization of $134.86 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $180.90 and a 200-day simple moving average of $160.35. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BX shares. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Barclays cut their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.