Sippican Capital Advisors Increases Stake in Blackstone Group LP (BX)

Sippican Capital Advisors lifted its stake in Blackstone Group LP (NYSE:BX) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,140 shares of the asset manager’s stock after purchasing an additional 840 shares during the quarter. Sippican Capital Advisors’ holdings in Blackstone Group were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of BX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Blackstone Group during the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its position in shares of Blackstone Group by 69.4% during the 1st quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 300 shares during the last quarter. Essex Savings Bank purchased a new stake in shares of Blackstone Group during the 4th quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Blackstone Group during the 4th quarter valued at about $32,000. Finally, MCF Advisors LLC increased its position in shares of Blackstone Group by 200.0% during the 4th quarter. MCF Advisors LLC now owns 1,500 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 1,000 shares during the last quarter. 50.27% of the stock is owned by hedge funds and other institutional investors.

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III purchased 75,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $24.16 per share, for a total transaction of $1,812,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have purchased 567,316 shares of company stock valued at $13,583,937. 1.00% of the stock is currently owned by corporate insiders.

Shares of NYSE:BX traded down $0.06 during mid-day trading on Wednesday, reaching $35.73. 781,531 shares of the company traded hands, compared to its average volume of 2,164,866. The company has a market cap of $23.57 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 3.63 and a beta of 1.43. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.75. Blackstone Group LP has a 52 week low of $26.88 and a 52 week high of $40.60.

Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). The company had revenue of $504.98 million for the quarter, compared to the consensus estimate of $381.19 million. Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The company’s revenue was down 74.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. Equities research analysts predict that Blackstone Group LP will post 2.45 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on BX shares. Zacks Investment Research raised shares of Blackstone Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Morgan Stanley reduced their price target on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.54.

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Blackstone Group Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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