The Blackstone Group L.P. (NYSE:BX) : The highest level The Blackstone Group L.P. (NYSE:BX) is projected to reach is $38 for the short term and the lowest estimate is at $26. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $31.71 and the possibility the share price can swing is $4.03.
The Blackstone Group L.P. has lost 5.18% in the last five trading days and dropped 6.55% in the last 4 weeks. The Blackstone Group L.P. has dropped 11.91% during the last 3-month period . Year-to-Date the stock performance stands at -13.25%. Also, Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on The Blackstone Group L.P. (NYSE:BX). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Deutsche Bank lowers the price target from $28 per share to $26 per share. The rating by the firm was issued on June 16, 2016.
The Blackstone Group L.P. (NYSE:BX) : The consensus on The Blackstone Group L.P. (NYSE:BX) based on 10 analyst recommendation on the company stock is 1.75, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
The Blackstone Group L.P. (NYSE:BX): The stock opened at $24.90 on Thursday but the bulls could not build on the opening and the stock topped out at $24.97 for the day. The stock traded down to $24.35 during the day, due to lack of any buying support eventually closed down at $24.54 with a loss of -0.85% for the day. The stock had closed at $24.75 on the previous day. The total traded volume was 3,411,958 shares.
In an insider trading activity, The Securities and Exchange Commission has divulged that Goodman Bennett J, director of Blackstone Group L.P., had unloaded 342,916 shares at an average price of $26.31 in a transaction dated on February 19, 2016. The total value of the transaction was worth $9,022,120.
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.