Could The Blackstone Group L.P. (BX) See a Reversal After Having Formed Several Months Descending Triangle

May 21, 2018 - By Vivian Park

The Blackstone Group L.P. (NYSE:BX) Logo

Investors sentiment decreased to 1 in Q4 2017. Its down 0.24, from 1.24 in 2017Q3. It worsened, as 59 investors sold The Blackstone Group L.P. shares while 154 reduced holdings. 49 funds opened positions while 165 raised stakes. 298.48 million shares or 9.36% more from 272.94 million shares in 2017Q3 were reported.
Grassi Invest Management holds 0.34% or 66,300 shares in its portfolio. Gilman Hill Asset Management Limited Com has 0.31% invested in The Blackstone Group L.P. (NYSE:BX) for 23,575 shares. Eaton Vance Management invested in 294,684 shares or 0.02% of the stock. Fred Alger Mgmt Inc stated it has 0.56% in The Blackstone Group L.P. (NYSE:BX). Gamco Et Al reported 45,665 shares or 0.01% of all its holdings. Gabelli Funds Limited Co reported 0.01% stake. Markel holds 850,000 shares. Walleye Trading Limited Liability Corporation invested in 0.03% or 167,701 shares. First Midwest Bank & Trust Division invested 0.11% in The Blackstone Group L.P. (NYSE:BX). Two Sigma Secs Lc has invested 0.01% in The Blackstone Group L.P. (NYSE:BX). Duncker Streett Communication has invested 0.08% in The Blackstone Group L.P. (NYSE:BX). Caprock Grp holds 0.26% or 37,417 shares in its portfolio. Barrett Asset Management Limited Co has 0.07% invested in The Blackstone Group L.P. (NYSE:BX). Reliance Of Delaware reported 0.06% in The Blackstone Group L.P. (NYSE:BX). Moreover, Griffin Asset Mgmt Incorporated has 0.45% invested in The Blackstone Group L.P. (NYSE:BX) for 78,160 shares.

Since December 13, 2017, it had 0 insider purchases, and 5 sales for $18.59 million activity. Shares for $751,300 were sold by Finley John G.

The stock of The Blackstone Group L.P. (BX) formed a descending triangle with $33.94 target or 8.00 % above today’s $31.43 share price. The 6 months triangle pattern indicates low risk for the $37.41B company. If the $33.94 price target is reached, the company will be worth $2.99 billion more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.44% or $0.1362 during the last trading session, reaching $31.4262. About 352,639 shares traded. The Blackstone Group L.P. (NYSE:BX) has risen 7.37% since May 21, 2017 and is uptrending. It has underperformed by 4.18% the S&P500.

Analysts await The Blackstone Group L.P. (NYSE:BX) to report earnings on July, 19. They expect $0.70 earnings per share, up 18.64 % or $0.11 from last year’s $0.59 per share. BX’s profit will be $833.35M for 11.22 P/E if the $0.70 EPS becomes a reality. After $0.65 actual earnings per share reported by The Blackstone Group L.P. for the previous quarter, Wall Street now forecasts 7.69 % EPS growth.

The Blackstone Group L.P. (NYSE:BX) Ratings Coverage

Among 5 analysts covering Blackstone Group (NYSE:BX), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Blackstone Group had 10 analyst reports since January 10, 2018 according to SRatingsIntel. The firm has “Buy” rating by Oppenheimer given on Sunday, April 15. The rating was maintained by Morgan Stanley with “Overweight” on Monday, April 23. JP Morgan upgraded the stock to “Overweight” rating in Friday, January 12 report. The rating was downgraded by J.P. Morgan on Tuesday, February 6 to “Hold”. JP Morgan downgraded the stock to “Neutral” rating in Tuesday, February 6 report. The firm has “Buy” rating given on Thursday, February 1 by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained the stock with “Buy” rating in Wednesday, April 11 report. The stock of The Blackstone Group L.P. (NYSE:BX) earned “Buy” rating by Keefe Bruyette & Woods on Wednesday, January 10. J.P. Morgan upgraded it to “Buy” rating and $46.0 target in Friday, January 12 report.

More notable recent The Blackstone Group L.P. (NYSE:BX) news were published by: Streetinsider.com which released: “Wall Street to rally as US-China put trade war ‘on hold'” on May 21, 2018, also Streetinsider.com with their article: “UPDATE: Blackstone (BX) is said to Agree to $4.8 Billion Lasalle Hotel (LHO) Deal – Bloomberg” published on May 21, 2018, Streetinsider.com published: “IHS Markit (INFO) Announces Acquisition of Ipreo from Blackstone (BX) and Goldman Sachs Merchant Banking …” on May 21, 2018. More interesting news about The Blackstone Group L.P. (NYSE:BX) were released by: Seekingalpha.com and their article: “Blackstone to buy LaSalle Hotel for $4.8B” published on May 21, 2018 as well as Bizjournals.com‘s news article titled: “‘Bursting at the seams,’ this high-profile Peninsula biotech company is moving to a bigger home” with publication date: May 21, 2018.

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The company has market cap of $37.41 billion. The firm also provides financial advisory services to its clients. It has a 14.22 P/E ratio. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

The Blackstone Group L.P. (NYSE:BX) Ratings Chart

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