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.