Cora Capital Advisors LLC Sells 2,167 Shares of Blackstone Inc. (NYSE:BX)

Cora Capital Advisors LLC cut its stake in Blackstone Inc. (NYSE:BX) by 50.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,097 shares of the asset manager’s stock after selling 2,167 shares during the quarter. Cora Capital Advisors LLC’s holdings in Blackstone were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BX. International Assets Investment Management LLC lifted its holdings in Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. The Manufacturers Life Insurance Company grew its position in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after buying an additional 937,084 shares during the period. Mackenzie Financial Corp raised its position in Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after acquiring an additional 912,685 shares during the period. Castleark Management LLC bought a new position in shares of Blackstone during the 3rd quarter valued at approximately $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after purchasing an additional 395,011 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $186.79 on Friday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53. The firm has a 50 day simple moving average of $180.90 and a two-hundred day simple moving average of $160.35.

Insider Activity at Blackstone

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 transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on BX. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets raised their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Profile

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.