The stock of Blackstone Inc (NYSE: BX) has increased by 3.33 when compared to last closing price of 134.79. Despite this, the company has experienced a 3.72% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-25 that Billionaire investors Jon Gray and Steve Schwartzman-run Blackstone has invested billions in REITs this year. Blackstone bought out two REITs and is now rumored to soon take out a third one. I explain why they are so bullish on REITs and highlight some of my top picks.
Is It Worth Investing in Blackstone Inc (NYSE: BX) Right Now?
The price-to-earnings ratio for Blackstone Inc (NYSE: BX) is 53.15x, which is above its average ratio. Moreover, the 36-month beta value for BX is 1.50. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 6 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for BX is 712.71M and currently, short sellers hold a 2.74% of that float. On August 26, 2024, BX’s average trading volume was 3.26M shares.
BX’s Market Performance
The stock of Blackstone Inc (BX) has seen a 3.72% increase in the past week, with a -0.20% drop in the past month, and a 13.50% gain in the past quarter. The volatility ratio for the week is 2.14%, and the volatility levels for the past 30 days are at 2.80% for BX. The simple moving average for the past 20 days is 3.49% for BX’s stock, with a 13.30% 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 6.86% 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 -3.74% of loss for the given period.
Volatility was left at 2.80%, however, over the last 30 days, the volatility rate increased by 2.14%, as shares sank -1.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.84% upper at present.
During the last 5 trading sessions, BX rose by +3.72%, which changed the moving average for the period of 200-days by +41.65% in comparison to the 20-day moving average, which settled at $134.47. In addition, Blackstone Inc saw 7.65% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BX starting from Blackstone Inc., who sale 30,539,203 shares at the price of $16.58 back on Aug 21 ’24. After this action, Blackstone Inc. now owns 31,805 shares of Blackstone Inc, valued at $506,339,986 using the latest closing price.
Finley John G, the Chief Legal Officer of Blackstone Inc, sale 35,000 shares at $131.74 during a trade that took place back on Aug 07 ’24, which means that Finley John G is holding 429,386 shares at $4,610,900 based on the most recent closing price.
Stock Fundamentals for BX
Current profitability levels for the company are sitting at:
- 0.53 for the present operating margin
- 0.99 for the gross margin
The net margin for Blackstone Inc stands at 0.22. The total capital return value is set at 0.14. Equity return is now at value 28.40, with 4.86 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 0.23. The debt to equity ratio resting at 1.58. The interest coverage ratio of the stock is 11.12.
Currently, EBITDA for the company is 3.48 billion with net debt to EBITDA at 1.89. When we switch over and look at the enterprise to sales, we see a ratio of 12.04. The receivables turnover for the company is 1.78for trailing twelve months and the total asset turnover is 0.22.
Conclusion
To wrap up, the performance of Blackstone Inc (BX) has been better in recent times. The stock has received a bullish of “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.
