Will Blackstone Stock React to Today's News?

BX investors were likely spooked this afternoon by Barrons's report: "Blackstone's big nontraded business development company hit its 5% investor redemption limit in the fourth quarter and honored all withdrawal requests, according to a filing Monday." For more coverage, read the full article here. On the back of this news, Blackstone sank -2.9% to a price of $79.62.

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 company belongs to the Financial Services sector, which has an average price to earnings (P/E) ratio of 13.34 and an average price to book (P/B) ratio of 1.95. In contrast, Blackstone has a trailing 12 month P/E ratio of 22.6 and a P/B ratio of 7.4.

Blackstone has moved -41.2% over the last year compared to -14.7% for the S&P 500 — a difference of -26.5%. Blackstone has a 52 week high of $141.48 and a 52 week low of $79.31. At today's price of $79.62 per share, Blackstone is -19.98% away from its target price of $99.5, and on average, analysts give the stock a rating of buy.2.8% of the company's shares are linked to short positions, and 64.4% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.