Mission Creek Capital Partners Inc. Invests $1.15 Million in Blackstone Inc. (NYSE:BX)

Mission Creek Capital Partners Inc. bought a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,677 shares of the asset manager's stock, valued at approximately $1,151,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BX. Bangor Savings Bank increased its position in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone during the 4th quarter valued at $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone during the fourth quarter valued at about $33,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone during the fourth quarter worth about $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

BX opened at $132.80 on Friday. The company's 50 day simple moving average is $141.56 and its 200-day simple moving average is $164.08. The stock has a market capitalization of $96.87 billion, a P/E ratio of 36.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a one year low of $115.66 and a one year 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.

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

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday. Morgan Stanley lowered their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Bank of America decreased their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. StockNews.com cut shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $154.82.

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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