BX Stock Summary and Trading Ideas (Blackstone | NYSE:BX)

Blackstone is the world's largest alternative-asset manager with $1.040 trillion in total asset under management, including $762.6 billion in fee-earning assets under management, at the end of 2023. The company has four core business segments: private equity (22% of fee-earning AUM and 28% of base management fees), real estate (39% and 43%), credit and insurance (29% and 21%), and hedge fund solutions (10% and 8%). While the firm primarily serves institutional investors (87% of AUM), it also caters to clients in the high-net-worth channel (13%). Blackstone operates through 25 offices in the Americas (8), Europe and the Middle East (9), and the Asia-Pacific region (8).

Blackstone trades on the NYSE stock market under the symbol BX.

As of April 19, 2024, BX stock price declined to $118.40 with 3,823,297 million shares trading.

BX has a beta of 1.93, meaning it tends to be more sensitive to market movements. BX has a correlation of 0.45 to the broad based SPY ETF.

BX has a market cap of $89.19 billion. This is considered a Large Cap stock.

Last quarter Blackstone reported $3 billion in Revenue and $.98 earnings per share. This beat revenue expectation by $59 million and exceeded earnings estimates by $.02.

In the last 3 years, BX stock traded as high as $149.78 and as low as $71.72.

The top ETF exchange traded funds that BX belongs to (by Net Assets): VTI, VOO, SPY, VUG, IVV.

BX has outperformed the market in the last year with a return of +33.1%, while the SPY ETF gained +21.2%. However, in the most recent history, BX shares have underperformed the stock market with its stock returning +1.9% in the last 3 month period and -6.0% for the last 2 week period, while SPY has returned +4.3% and -3.5%, respectively.

BX support price is $117.88 and resistance is $122.77 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BX stock will trade within this expected range on the day.