Blackstone Inc (NYSE: BX)’s stock price has decreased by -1.53 compared to its previous closing price of 122.49. However, the company has seen a -1.20% decrease in its stock price over the last five trading sessions. Market Watch reported 2024-04-29 that Hipgnosis Songs Fund on Monday said it had struck a new deal with Blackstone through which the private equity giant would fully acquire the company that owns the rights to the music of Neil Young and Shakira for an improved sum of £1.26 billion ($1.57 billion).
Is It Worth Investing in Blackstone Inc (NYSE: BX) Right Now?
Blackstone Inc (NYSE: BX) has a price-to-earnings ratio that is above its average at 42.61x. The stock has a 36-month beta value of 1.50. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 6 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for BX is 707.15M, and at present, short sellers hold a 2.85% of that float. On April 30, 2024, the average trading volume of BX was 3.66M shares.
BX’s Market Performance
BX stock saw a decrease of -1.20% in the past week, with a monthly decline of -8.18% and a quarterly a decrease of -5.18%. The volatility ratio for the week is 2.48%, and the volatility levels for the last 30 days are 2.70% for Blackstone Inc (BX). The simple moving average for the past 20 days is -3.36% for BX’s stock, with a 6.19% simple moving average for the past 200 days.
Analysts’ Opinion of BX
Many brokerage firms have already submitted their reports for BX stocks, with UBS repeating the rating for BX by listing it as a “Neutral.” The predicted price for BX in the upcoming period, according to UBS is $135 based on the research report published on April 02, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see BX reach a price target of $124, previously predicting the price at $116. The rating they have provided for BX stocks is “Neutral” according to the report published on January 19th, 2024.
BX Trading at -4.22% 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 -9.69% of loss for the given period.
Volatility was left at 2.70%, however, over the last 30 days, the volatility rate increased by 2.48%, as shares sank -7.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.39% lower at present.
During the last 5 trading sessions, BX fell by -1.20%, which changed the moving average for the period of 200-days by +17.40% in comparison to the 20-day moving average, which settled at $124.29. In addition, Blackstone Inc saw -7.41% 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 BX Buzz ML-1 GP LLC, who sale 2,509,316 shares at the price of $11.10 back on Mar 03 ’24. After this action, BX Buzz ML-1 GP LLC now owns 12,802 shares of Blackstone Inc, valued at $27,845,378 using the latest closing price.
Brown Reginald J, the Director of Blackstone Inc, purchase 2,400 shares at $125.62 during a trade that took place back on Feb 21 ’24, which means that Brown Reginald J is holding 16,949 shares at $301,500 based on the most recent closing price.
Stock Fundamentals for BX
Current profitability levels for the company are sitting at:
- 0.54 for the present operating margin
- 0.99 for the gross margin
The net margin for Blackstone Inc stands at 0.23. The total capital return value is set at 0.14. Equity return is now at value 30.65, with 5.33 for asset returns.
Based on Blackstone Inc (BX), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.34. The debt to equity ratio resting at 1.54. The interest coverage ratio of the stock is 15.07.
Currently, EBITDA for the company is 3.48 billion with net debt to EBITDA at 1.76. When we switch over and look at the enterprise to sales, we see a ratio of 16.88. The receivables turnover for the company is 1.87for trailing twelve months and the total asset turnover is 0.23.
Conclusion
To sum up, Blackstone Inc (BX) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
