Blackstone Group LP (BX) : Iconiq Capital added new position in Blackstone Group LP during the most recent quarter end. The investment management firm now holds 17,780 shares of Blackstone Group LP which is valued at $458,724 , the company said in a statement filed on May 13, 2016 with the SEC.Blackstone Group LP makes up approximately 0.09% of Iconiq Capital’s portfolio.
Other Hedge Funds, Including , Alliance Trust Plc boosted its stake in BX in the latest quarter, The investment management firm added 681,500 additional shares and now holds a total of 3,510,600 shares of Blackstone Group LP which is valued at $93.7 Million. Blackstone Group LP makes up approx 4.51% of Alliance Trust Plc’s portfolio. Canal Capital Management added BX to its portfolio by purchasing 18,031 company shares during the most recent quarter which is valued at $494,771. Blackstone Group LP makes up approx 0.49% of Canal Capital Management’s portfolio.Whittier Trust Co reduced its stake in BX by selling 5,561 shares or 44.52% in the most recent quarter. The Hedge Fund company now holds 6,931 shares of BX which is valued at $190,187. Blackstone Group LP makes up approx 0.01% of Whittier Trust Co’s portfolio.
Blackstone Group LP opened for trading at $26.36 and hit $27.29 on the upside on Wednesday, eventually ending the session at $26.71, with a gain of 2.02% or 0.53 points. The heightened volatility saw the trading volume jump to 48,16,774 shares. Company has a market cap of $31,849 M.
On the company’s financial health, Blackstone Group LP reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.39. The company had revenue of $929.40 million for the quarter, compared to analysts expectations of $985.61 million. The company’s revenue was down -63.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 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 .
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.