The Blackstone Group L.P. (BX) : Traders are bullish on The Blackstone Group L.P. (BX) as it has outperformed the S&P 500 by a wide margin of 2.42% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.17%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.14% in the last 1 week, and is up 2.81% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The Blackstone Group L.P. is up 12.24% in the last 3-month period. Year-to-Date the stock performance stands at 0.97%. The stock has recorded a 20-day Moving Average of 3.18% and the 50-Day Moving Average is 9.89%.
The Blackstone Group L.P. (NYSE:BX): The stock opened at $28.22 on Friday but the bulls could not build on the opening and the stock topped out at $28.36 for the day. The stock traded down to $28.06 during the day, due to lack of any buying support eventually closed down at $28.19 with a loss of -0.46% for the day. The stock had closed at $28.32 on the previous day. The total traded volume was 1,756,523 shares.
Also, Barclays maintains its view on The Blackstone Group L.P. (NYSE:BX) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Barclays raises the price target from $29 per share to $33 per share on The Blackstone Group L.P.. The rating by the firm was issued on August 9, 2016.
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.