Cacti Asset Management buys $2.8 Million stake in Blackstone Group LP (BX)

Blackstone Group LP (BX) : Cacti Asset Management scooped up 26,390 additional shares in Blackstone Group LP during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 98,865 shares of Blackstone Group LP which is valued at $2.8 Million.Blackstone Group LP makes up approximately 0.30% of Cacti Asset Management’s portfolio.

Other Hedge Funds, Including , Renaissance Investment Group boosted its stake in BX in the latest quarter, The investment management firm added 1,325 additional shares and now holds a total of 116,611 shares of Blackstone Group LP which is valued at $3.3 Million. Blackstone Group LP makes up approx 1.64% of Renaissance Investment Group’s portfolio.

On the company’s financial health, Blackstone Group LP reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $0.50. The company had revenue of $877.20 million for the quarter, compared to analysts expectations of $1097.43 million. The company’s revenue was down -59.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.25 EPS.

Many Wall Street Analysts have commented on Blackstone Group LP. Shares were Downgraded by Deutsche Bank on Mar 11, 2016 to ” Hold” and Lowered the Price Target to $ 28 from a previous price target of $30 .Shares were Reiterated by Argus on Feb 2, 2016 to “Buy” and Lowered the Price Target to $ 38 from a previous price target of $43 .Shares were Reiterated by RBC Capital Mkts on Jan 26, 2016 to “Outperform” and Lowered the Price Target to $ 38 from a previous price target of $44 .

Blackstone Group LP closed down -0.14 points or -0.52% at $26.53 with 32,37,398 shares getting traded on Monday. Post opening the session at $26.77, the shares hit an intraday low of $26.53 and an intraday high of $27.025 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

The Blackstone Group L.P. is a global alternative asset manager. The Company’s 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 Company’s segments include Private Equity Real Estate Hedge Fund Solutions and Credit. The Company’s 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 Company’s 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.

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