The Blackstone Group L.P. (NYSE:BX) has tumbled 4.45% during the past week and has dropped 2.12% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.3%. The Blackstone Group L.P. (NYSE:BX) has underperformed the index by 3.02% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
The Blackstone Group L.P. (NYSE:BX): The stock opened at $24.95 on Friday but the bulls could not build on the opening and the stock topped out at $25.19 for the day. The stock traded down to $24.57 during the day, due to lack of any buying support eventually closed down at $24.91 with a loss of -0.04% for the day. The stock had closed at $24.92 on the previous day. The total traded volume was 3,321,320 shares.
The company shares have dropped -40.93% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $42.61 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $26.21 and the 200 Day Moving Average price is recorded at $27.19.
On the companys insider trading activities, The director, of Blackstone Group L.P., Goodman Bennett J had unloaded 342,916 shares at $26.31 per share in a transaction on February 19, 2016. The total value of transaction was $9,022,120. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Deutsche Bank maintains their rating on the shares of The Blackstone Group L.P. (NYSE:BX). The current rating of the shares is Hold. Equity Analysts at the Firm lowers the price target to $26 per share from $28 per share. The rating by the firm was issued on June 16, 2016. Currently the company Insiders own 1% of The Blackstone Group L.P. shares according to the proxy statements. Institutional Investors own 48.34% of The Blackstone Group L.P. shares. During last six month period, the net percent change held by insiders has seen a change of -35.06%.
The Blackstone Group L.P. is a global alternative asset manager. The Companys alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and multi-asset class exposures falling outside of other funds mandates. The Companys segments include Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Companys Private Equity segment focuses on identifying, managing and creating lasting value for its investors. The Company manages a number of global, European and Asian focused opportunistic real estate funds, several real estate debt investment funds, a real estate investment trust (BXMT). The Companys Hedge Fund Solutions group consists of Blackstone Alternative Asset Management (BAAM). Its credit business consists of GSO Capital Partners LP (GSO). It is a participant in the leveraged finance markets.