Time to Buy Blackstone Group LP After Today’s Option Traders Bet?

 Time to Buy Blackstone Group LP After Today's Option Traders Bet?

In today’s session Blackstone Group LP (BX) registered an unusually high (588) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the June, 2017 call, expecting serious BX increase. With 588 contracts traded and 11174 open interest for the Jun, 17 contract, it seems this is a quite bullish bet. The option with symbol: BX170616C00027000 closed last at: $1.34 or 23.9% down. About 454,306 shares traded hands. Blackstone Group LP (NYSE:BX) has declined 9.88% since April 27, 2016 and is downtrending. It has underperformed by 15.11% the S&P500.

Analysts await Blackstone Group LP (NYSE:BX) to report earnings on January, 26. They expect $0.59 earnings per share, up 59.46% or $0.22 from last year’s $0.37 per share. BX’s profit will be $710.79 million for 11.11 P/E if the $0.59 EPS becomes a reality. After $0.57 actual earnings per share reported by Blackstone Group LP for the previous quarter, Wall Street now forecasts 3.51% EPS growth.

Blackstone Group LP (NYSE:BX) Ratings Coverage

Out of 14 analysts covering The Blackstone Group L.P. (NYSE:BX), 9 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 64% are positive. $49 is the highest target while $26 is the lowest. The $36.22 average target is 38.09% above today’s ($26.23) stock price. The Blackstone Group L.P. has been the topic of 40 analyst reports since August 9, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Sunday, August 9 by Standpoint Research. Bank of America downgraded Blackstone Group LP (NYSE:BX) rating on Tuesday, December 8. Bank of America has “Neutral” rating and $33 price target. On Tuesday, October 27 the stock rating was maintained by Argus Research with “Buy”. Barclays Capital maintained Blackstone Group LP (NYSE:BX) rating on Thursday, October 13. Barclays Capital has “Overweight” rating and $31 price target. The stock of Blackstone Group LP (NYSE:BX) earned “Overweight” rating by Barclays Capital on Tuesday, August 11. Goldman Sachs initiated the stock with “Buy” rating in Tuesday, August 11 report. The stock has “Buy” rating given by Deutsche Bank on Friday, January 8. The stock of Blackstone Group LP (NYSE:BX) earned “Positive” rating by Susquehanna on Thursday, September 3. The company was maintained on Monday, July 11 by Wood. RBC Capital Markets maintained it with “Outperform” rating and $38 target price in Tuesday, January 26 report.

According to Zacks Investment Research, “Blackstone is one of the world’s leading investment and advisory firms. Their alternative asset management businesses include the management of corporate private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.”

Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.31, from 0.97 in 2016Q1. The ratio is positive, as 55 funds sold all Blackstone Group LP shares owned while 135 reduced positions. 31 funds bought stakes while 153 increased positions. They now own 266.64 million shares or 0.80% more from 264.53 million shares in 2016Q1.
Consolidated Inv Group Incorporated Limited Liability, a Colorado-based fund reported 126,429 shares. The New York-based Tiger Mngmt Ltd Liability Corp has invested 5.14% in Blackstone Group LP (NYSE:BX). The Illinois-based New Vernon Inv Mgmt Limited Liability has invested 0.52% in Blackstone Group LP (NYSE:BX). Brick & Kyle Assocs last reported 16,523 shares in the company. Ing Groep Nv has 15.85M shares for 5.22% of their US portfolio. Benjamin F Edwards And Co accumulated 405 shares or 0% of the stock. Adell Harriman Carpenter Incorporated owns 227,673 shares or 0% of their US portfolio. Renaissance Inv Ltd Com has 126,936 shares for 1.55% of their US portfolio. Toronto Dominion State Bank last reported 1.00 million shares in the company. Alpine Woods Cap holds 0.01% or 10,000 shares in its portfolio. Ameriprise Fincl last reported 0.04% of its portfolio in the stock. Camelot Portfolios Limited Liability Company accumulated 0.21% or 14,408 shares. Moreover, Grisanti Capital Mgmt Limited Liability Corp has 0.01% invested in Blackstone Group LP (NYSE:BX) for 1,005 shares. Berkshire Asset Mngmt Ltd Pa holds 42,458 shares or 0.16% of its portfolio. Timber Hill Ltd has 0.01% invested in the company for 119,906 shares.

Insider Transactions: Since August 15, 2016, the stock had 0 buys, and 2 selling transactions for $611,435 net activity. 11,000 Blackstone Group LP (NYSE:BX) shares with value of $306,570 were sold by SKERO KATHLEEN.

The Blackstone Group L.P. is a global alternative asset manager. The company has a market cap of $31.60 billion. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies. It has a 20.74 P/E ratio. The Company’s divisions include Private Equity, Real Estate, Hedge Fund Solutions and Credit.

BX Company Profile

The Blackstone Group L.P. (Blackstone), incorporated on March 12, 2007, is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies. The Company’s divisions include Private Equity, Real Estate, Hedge Fund Solutions and Credit.

Another recent and important Blackstone Group LP (NYSE:BX) news was published by Natlawreview.com which published an article titled: “Upcoming/New CFIUS Filing: Tennessee Parent Inc./The Blackstone Group L.P. and …” on November 20, 2016.

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