Moors Cabot Lowers stake in Blackstone Group LP (BX)

Blackstone Group LP (BX) : Moors Cabot reduced its stake in Blackstone Group LP by 1.0% during the most recent quarter end. The investment management company now holds a total of 94,756 shares of Blackstone Group LP which is valued at $2,643,692 after selling 959 shares in Blackstone Group LP , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Blackstone Group LP makes up approximately 0.45% of Moors Cabot’s portfolio.

Other Hedge Funds, Including , Oppenheimer Co Inc boosted its stake in BX in the latest quarter, The investment management firm added 9,796 additional shares and now holds a total of 81,309 shares of Blackstone Group LP which is valued at $2,268,521. Blackstone Group LP makes up approx 0.06% of Oppenheimer Co Inc’s portfolio.10-15 Associates boosted its stake in BX in the latest quarter, The investment management firm added 15,539 additional shares and now holds a total of 91,228 shares of Blackstone Group LP which is valued at $2,480,489. Blackstone Group LP makes up approx 0.69% of 10-15 Associates’s portfolio. Welch Forbes sold out all of its stake in BX during the most recent quarter. The investment firm sold 7,447 shares of BX which is valued $198,537.Artemis Investment Management Llp boosted its stake in BX in the latest quarter, The investment management firm added 359 additional shares and now holds a total of 964,503 shares of Blackstone Group LP which is valued at $26,523,833. Blackstone Group LP makes up approx 0.69% of Artemis Investment Management Llp’s portfolio.Naples Global Advisors reduced its stake in BX by selling 5,775 shares or 13.09% in the most recent quarter. The Hedge Fund company now holds 38,333 shares of BX which is valued at $950,658. Blackstone Group LP makes up approx 0.38% of Naples Global Advisors’s portfolio.

Blackstone Group LP opened for trading at $27.62 and hit $28.07 on the upside on Monday, eventually ending the session at $27.94, with a gain of 1.23% or 0.34 points. The heightened volatility saw the trading volume jump to 20,26,576 shares. Company has a market cap of $33,322 M.

On the company’s financial health, Blackstone Group LP reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.39. The company had revenue of $1192.48 million for the quarter, compared to analysts expectations of $1017.58 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

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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