The Blackstone Group L.P. (BX) has risen sharply, recording gains of 9.55% in the past 4 weeks. However, the stock has corrected -2.12% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 5.99% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 7.3% and the 50-Day Moving Average is 6.6%. The Blackstone Group L.P. has dropped 0.89% during the last 3-month period . Year-to-Date the stock performance stands at -3.86%.
The Blackstone Group L.P. (NYSE:BX): On Fridays trading session , Opening price of the stock was $26.88 with an intraday high of $27.03. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $26.68. However, the stock managed to close at $26.84, a loss of 0.56% for the day. On the previous day, the stock had closed at $26.99. The total traded volume of the day was 2,166,027 shares.
Also, Equity analysts at the Brokerage firm Keefe Bruyette & Woods maintains its rating on The Blackstone Group L.P. (NYSE:BX). The rating major has initiated the coverage with market perform rating on the shares. The Analysts at Keefe Bruyette & Woods lowers the price target from $34 per share to $33 per share. The rating by the firm was issued on July 11, 2016.
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.