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Blackstone Inc. (BX) Is Now En Route to Higher Prices

Blackstone Inc. (NYSE: BX) is 14.58% higher on its value in year-to-date trading and has touched a low of $71.72 and a high of $138.38 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BX stock was last observed hovering at around $80.52 in the last trading session, with the day’s gains setting it 4.49% off its average median price target of $100.00 for the next 12 months. It is also 24.77% off the consensus price target high of $113.00 offered by 22 analysts, but current levels are -25.94% lower than the price target low of $67.50 for the same period.

Currently trading at $85.01, the stock is 8.46% and 1.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.19 million and changing 5.58% at the moment leaves the stock -11.09% off its SMA200. BX registered -23.96% loss for a year compared to 6-month loss of -12.79%.

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The stock witnessed a 15.69% gain in the last 1 month and extending the period to 3 months gives it a -2.71%, and is -0.06% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.52% over the week and 3.16% over the month.

Blackstone Inc. (BX) has around 3795 employees, a market worth around $97.68B and $12.58B in sales. Current P/E ratio is 24.00 and Fwd P/E is 17.07. Profit margin for the company is 20.60%. Distance from 52-week low is 18.53% and -38.57% from its 52-week high. The company has generated returns on investments over the last 12 months (69.00%).

Blackstone Inc. (BX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Blackstone Inc. (BX) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 2.30, where 7 rate it as a Hold and 2 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Blackstone Inc. is expected to release its quarterly report on 04/20/2023.The EPS is expected to grow by 442.50% this year.

Blackstone Inc. (BX) Top Institutional Holders

The shares outstanding are 742.35M, and float is at 695.98M with Short Float at 2.60%.

Blackstone Inc. (BX) Insider Activity

A total of 15 insider transactions have happened at Blackstone Inc. (BX) in the last six months, with sales accounting for 6 and purchases happening 9 times. The most recent transaction is an insider sale by Blackstone Holdings I/II GP L.,the company’s10% Owner. SEC filings show that Blackstone Holdings I/II GP L. sold 6,341,568 shares of the company’s common stock on Dec 14 at a price of $8.00 per share for a total of $50.73 million. Following the sale, the insider now owns 83109.0 shares.

Blackstone Inc. disclosed in a document filed with the SEC on Dec 02 that Porat Ruth (Director) bought a total of 20,000 shares of the company’s common stock. The trade occurred on Dec 02 and was made at $83.55 per share for $1.67 million. Following the transaction, the insider now directly holds 20000.0 shares of the BX stock.

Still, SEC filings show that on Nov 17, Blackstone Holdings III L.P. (10% Owner) disposed off 12,154,671 shares at an average price of $7.46 for $90.67 million. The insider now directly holds 295 shares of Blackstone Inc. (BX).

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