Exchange Traded Concepts LLC Buys 6,073 Shares of Blackstone Inc. (NYSE:BX)

Exchange Traded Concepts LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 520.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,240 shares of the asset manager’s stock after buying an additional 6,073 shares during the period. Exchange Traded Concepts LLC’s holdings in Blackstone were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. CX Institutional raised its stake in Blackstone by 29.4% during the 4th quarter. CX Institutional now owns 3,446 shares of the asset manager’s stock worth $594,000 after buying an additional 783 shares during the period. Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter worth approximately $34,000. Sound Income Strategies LLC lifted its stake in Blackstone by 23.7% in the fourth quarter. Sound Income Strategies LLC now owns 944 shares of the asset manager’s stock valued at $163,000 after buying an additional 181 shares in the last quarter. LexAurum Advisors LLC increased its position in shares of Blackstone by 2.9% during the fourth quarter. LexAurum Advisors LLC now owns 5,068 shares of the asset manager’s stock worth $874,000 after acquiring an additional 145 shares in the last quarter. Finally, MFA Wealth Services bought a new stake in Blackstone in the 4th quarter valued at $814,000. 70.00% of the stock is owned by institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BX. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets upped their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays lowered their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Blackstone Stock Down 2.2 %

Shares of BX opened at $182.59 on Tuesday. The firm’s 50-day simple moving average is $180.90 and its 200 day simple moving average is $160.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $131.83 billion, a P/E ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.