The Blackstone Group L.P. (BX) Position Lowered by High Falls Advisors Inc

High Falls Advisors Inc cut its position in shares of The Blackstone Group L.P. (NYSE:BX) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,505 shares of the asset manager’s stock after selling 2,363 shares during the period. High Falls Advisors Inc’s holdings in The Blackstone Group L.P. were worth $517,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BX. Jacobi Capital Management LLC purchased a new position in shares of The Blackstone Group L.P. during the 2nd quarter worth about $116,000. Winslow Evans & Crocker Inc. boosted its stake in shares of The Blackstone Group L.P. by 1.4% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock worth $117,000 after purchasing an additional 50 shares during the period. PHH Investments Ltd. purchased a new position in shares of The Blackstone Group L.P. during the 1st quarter worth about $134,000. Omnia Family Wealth LLC boosted its stake in shares of The Blackstone Group L.P. by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock worth $134,000 after purchasing an additional 20 shares during the period. Finally, Archford Capital Strategies LLC boosted its stake in shares of The Blackstone Group L.P. by 72.1% during the 1st quarter. Archford Capital Strategies LLC now owns 5,088 shares of the asset manager’s stock worth $151,000 after purchasing an additional 2,131 shares during the period. 46.62% of the stock is owned by hedge funds and other institutional investors.

Shares of The Blackstone Group L.P. (NYSE BX) traded down 0.3227% during midday trading on Friday, reaching $32.8935. 989,403 shares of the company were exchanged. The Blackstone Group L.P. has a 52 week low of $23.33 and a 52 week high of $35.09. The firm has a 50-day moving average of $32.61 and a 200 day moving average of $32.12. The firm has a market capitalization of $21.35 billion, a P/E ratio of 14.7902 and a beta of 1.33.

The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.49 billion. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. During the same period last year, the business earned $0.44 EPS. On average, equities research analysts expect that The Blackstone Group L.P. will post $2.70 EPS for the current year.

BX has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $37.00 price target on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Vetr cut shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 price target for the company. in a research note on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of The Blackstone Group L.P. in a research note on Wednesday, June 28th. BidaskClub raised shares of The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Zacks Investment Research cut shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.72.

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The Blackstone Group L.P. Company Profile

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, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

Institutional Ownership by Quarter for The Blackstone Group L.P. (NYSE:BX)

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