Blackstone Inc (BX) Shares Soar Above 1-Year High

The stock of Blackstone Inc (NYSE: BX) has increased by 129.81 when compared to last closing price of 126.10. Despite this, the company has experienced a 7.06% gain in its stock price over the last five trading sessions. Market Watch reported 2024-02-12 that Hedge funds with long/short strategies have benefited in 2024 from a macroeconomic environment that has hit the most heavily shorted stocks particularly hard compared to their less shorted rivals, a new UBS report says.

Is It Worth Investing in Blackstone Inc (NYSE: BX) Right Now?

The price-to-earnings ratio for Blackstone Inc (NYSE: BX) is above average at 70.70x, while the 36-month beta value is 1.51.

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The public float for BX is 703.22M, and currently, short sellers hold a 3.44% ratio of that floaft. The average trading volume of BX on February 12, 2024 was 1.08 shares.

BX’s Market Performance

The stock of Blackstone Inc (BX) has seen a 7.06% increase in the past week, with a 8.25% rise in the past month, and a 34.03% gain in the past quarter. The volatility ratio for the week is 2.40%, and the volatility levels for the past 30 days are at 2.50% for BX. The simple moving average for the last 20 days is 16.94% for BX stock, with a simple moving average of Jan 25 BMO for the last 200 days.

Analysts’ Opinion of BX

Many brokerage firms have already submitted their reports for BX stocks, with Citigroup repeating the rating for BX by listing it as a “Neutral.” The predicted price for BX in the upcoming period, according to Citigroup is $124 based on the research report published on January 19, 2024 of the current year 2024.

BX Trading at 17.16% from the 50-Day Moving Average

After a stumble in the market that brought BX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.79% of loss for the given period.

Volatility was left at 2.50%, however, over the last 30 days, the volatility rate increased by 2.40%, as shares surge +8.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.39% upper at present.

During the last 5 trading sessions, BX rose by +6.90%, which changed the moving average for the period of 200-days by +51.94% in comparison to the 20-day moving average, which settled at $123.21. In addition, Blackstone Inc saw -0.85% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at BX starting from Baratta Joseph, who sale 28,852 shares at the price of $128.05 back on Feb 09. After this action, Baratta Joseph now owns 982,221 shares of Blackstone Inc, valued at $3,694,438 using the latest closing price.

Finley John G, the Chief Legal Officer of Blackstone Inc, sale 49,000 shares at $127.93 during a trade that took place back on Feb 08, which means that Finley John G is holding 393,143 shares at $6,268,673 based on the most recent closing price.

Stock Fundamentals for BX

Equity return is now at value 19.22, with 3.36 for asset returns.

Conclusion

In a nutshell, Blackstone Inc (BX) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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