The Blackstone Group L.P. (BX) has been under a strong bear grip, hence the stock is down -3.84% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.63% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.17% in the last 1 week, and is up 0.36% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 2.19% and the 50-Day Moving Average is 1.93%.
The Blackstone Group L.P. (NYSE:BX): The stock opened at $25.20 on Friday but the bulls could not build on the opening and the stock topped out at $25.24 for the day. The stock traded down to $24.94 during the day, due to lack of any buying support eventually closed down at $25.00 with a loss of -0.28% for the day. The stock had closed at $25.07 on the previous day. The total traded volume was 3,062,737 shares.
The company Insiders own 1% of The Blackstone Group L.P. shares according to the proxy statements. Institutional Investors own 48.32% of The Blackstone Group L.P. shares. During last six month period, the net percent change held by insiders has seen a change of -35.06%. In a related news, Goodman Bennett J, director of Blackstone Group L.P., unloaded 342,916 shares at an average price of $26.31 on February 19, 2016. The total amount of the transaction was worth $9,022,120, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
The Blackstone Group L.P. is a global alternative asset manager. The Companys alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and multi-asset class exposures falling outside of other funds mandates. The Companys segments include Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Companys Private Equity segment focuses on identifying, managing and creating lasting value for its investors. The Company manages a number of global, European and Asian focused opportunistic real estate funds, several real estate debt investment funds, a real estate investment trust (BXMT). The Companys Hedge Fund Solutions group consists of Blackstone Alternative Asset Management (BAAM). Its credit business consists of GSO Capital Partners LP (GSO). It is a participant in the leveraged finance markets.