Blackstone Group LP (BX) : Sol Capital Management Co scooped up 12,735 additional shares in Blackstone Group LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 133,960 shares of Blackstone Group LP which is valued at $3,574,053.Blackstone Group LP makes up approximately 1.13% of Sol Capital Management Co’s portfolio.
Blackstone Group LP closed down -0.08 points or -0.30% at $26.68 with 19,82,432 shares getting traded on Friday. Post opening the session at $26.5, the shares hit an intraday low of $26.44 and an intraday high of $26.92 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Other Hedge Funds, Including , Ifp Advisors Inc reduced its stake in BX by selling 30,225 shares or 19.79% in the most recent quarter. The Hedge Fund company now holds 122,536 shares of BX which is valued at $3,269,260. Blackstone Group LP makes up approx 0.20% of Ifp Advisors Inc’s portfolio. Dowling Yahnke added BX to its portfolio by purchasing 12,655 company shares during the most recent quarter which is valued at $347,253. Blackstone Group LP makes up approx 0.04% of Dowling Yahnke’s portfolio. Aperio Group sold out all of its stake in BX during the most recent quarter. The investment firm sold 11,179 shares of BX which is valued $306,752.Westbourne Investment Advisors boosted its stake in BX in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 8,730 shares of Blackstone Group LP which is valued at $239,551. Blackstone Group LP makes up approx 0.23% of Westbourne Investment Advisors’s portfolio.
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.