Mcnamara Financial Services Exits Position in Blackstone Group LP (BX)

Blackstone Group LP (BX) : Mcnamara Financial Services has sold out all of its stake in Blackstone Group LP during the most recent quarter, according to the disclosure filed by the company on Apr 13, 2016 with the SEC. The investment management company has sold out 10,175 shares of Blackstone Group LP which is valued at $292,837.

Blackstone Group LP opened for trading at $28.72 and hit $29.25 on the upside on Monday, eventually ending the session at $29.03, with a gain of 0.87% or 0.25 points. The heightened volatility saw the trading volume jump to 32,84,903 shares. Company has a market cap of $34,574 M.

Other Hedge Funds, Including , F&v Capital Management boosted its stake in BX in the latest quarter, The investment management firm added 185 additional shares and now holds a total of 10,745 shares of Blackstone Group LP which is valued at $309,241. Blackstone Group LP makes up approx 0.24% of F&v Capital Management’s portfolio.E&g Advisors Lp reduced its stake in BX by selling 2,150 shares or 4.88% in the most recent quarter. The Hedge Fund company now holds 41,919 shares of BX which is valued at $1,206,429. Blackstone Group LP makes up approx 0.78% of E&g Advisors Lp’s portfolio.Kistler-tiffany Companies boosted its stake in BX in the latest quarter, The investment management firm added 146 additional shares and now holds a total of 2,794 shares of Blackstone Group LP which is valued at $74,125. Blackstone Group LP makes up approx 0.04% of Kistler-tiffany Companies’s portfolio. Hollencrest Securities added BX to its portfolio by purchasing 45,208 company shares during the most recent quarter which is valued at $1,199,368. Blackstone Group LP makes up approx 0.21% of Hollencrest Securities’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 .

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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