GMT Capital Corp Invests $1.09 Million in Blackstone Inc. (NYSE:BX)

GMT Capital Corp acquired a new position in Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,300 shares of the asset manager's stock, valued at approximately $1,086,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone during the 4th quarter worth about $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone in the fourth quarter worth about $30,000. Roxbury Financial LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the 4th quarter valued at about $33,000. Institutional investors own 70.00% of the company's stock.

Insider Buying and Selling

In other news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research analyst reports. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday. Piper Sandler lowered their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays boosted their target price on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $153.72.

Blackstone Stock Performance

Shares of Blackstone stock opened at $124.89 on Wednesday. The stock has a market capitalization of $91.10 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The business has a 50-day moving average of $143.60 and a 200 day moving average of $164.45.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the business earned $0.98 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

Blackstone Profile

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.

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