The Blackstone Group L.P. (BX) : Traders are bullish on The Blackstone Group L.P. (BX) as it has outperformed the S&P 500 by a wide margin of 10.54% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.87%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.3% in the last 1 week, and is up 13.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The Blackstone Group L.P. (NYSE:BX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.81 and $26.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.29. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.19, notching a gain of 2.10% for the day. The total traded volume was 4,201,525 . The stock had closed at $26.63 on the previous day.
The stock has recorded a 20-day Moving Average of 5.44% and the 50-Day Moving Average is 7.37%. The Blackstone Group L.P. is up 3.26% in the last 3-month period. Year-to-Date the stock performance stands at -2.61%.
The Blackstone Group L.P. (BX) has been rated by 8 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $38 and the lowest price target forecast is $26. The average forecast of all the analysts is $31.63 and the expected standard deviation is $3.7.
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.