Madison Park Capital Advisors LLC Increases Position in Blackstone Inc. (NYSE:BX)

Madison Park Capital Advisors LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,955 shares of the asset manager’s stock after buying an additional 138 shares during the quarter. Blackstone comprises approximately 2.3% of Madison Park Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Madison Park Capital Advisors LLC’s holdings in Blackstone were worth $2,923,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BX. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter valued at $27,000. Bangor Savings Bank lifted its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Blackstone in the second quarter worth about $39,000. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $39,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Blackstone Stock Performance

Shares of BX stock opened at $181.52 on Wednesday. The firm’s 50 day moving average price is $180.68 and its 200-day moving average price is $159.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The firm has a market cap of $131.06 billion, a P/E ratio of 62.38, a P/E/G ratio of 1.20 and a beta of 1.53.

Analysts Set New Price Targets

A number of research analysts have weighed in on BX shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods cut their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $169.56.

About Blackstone

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.