At Bancorp Lowers stake in Blackstone Group LP (BX)

Blackstone Group LP (BX) : At Bancorp reduced its stake in Blackstone Group LP by 64.23% during the most recent quarter end. The investment management company now holds a total of 96,757 shares of Blackstone Group LP which is valued at $2,306,687 after selling 173,740 shares in Blackstone Group LP , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Blackstone Group LP makes up approximately 0.32% of At Bancorp’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in BX in the latest quarter, The investment management firm added 117,173 additional shares and now holds a total of 993,576 shares of Blackstone Group LP which is valued at $24,143,897. Blackstone Group LP makes up approx 0.02% of Legal General Group Plc’s portfolio.Grassi Investment Management reduced its stake in BX by selling 8,950 shares or 5.21% in the most recent quarter. The Hedge Fund company now holds 162,675 shares of BX which is valued at $3,953,003. Blackstone Group LP makes up approx 0.76% of Grassi Investment Management’s portfolio.Advisory Services Network boosted its stake in BX in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 24,827 shares of Blackstone Group LP which is valued at $612,730. Blackstone Group LP makes up approx 0.12% of Advisory Services Network’s portfolio.

Blackstone Group LP closed down -0.36 points or -1.46% at $24.3 with 41,47,288 shares getting traded on Tuesday. Post opening the session at $24.62, the shares hit an intraday low of $24.02 and an intraday high of $24.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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