26-Apr-2024
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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 26, 2024, BX stock price declined to $122.49 with 2,682,758 million shares trading.
BX has a beta of 1.86, meaning it tends to be more sensitive to market movements. BX has a correlation of 0.46 to the broad based SPY ETF.
BX has a market cap of $92.99 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, IVV, VUG.
BX has outperformed the market in the last year with a price return of +48.5% while the SPY ETF gained +27.4%. However, in the short term, BX had mixed performance relative to the market. It has underperformed in the last 3 months, returning -0.2% vs +4.6% return in SPY. But in the last 2 weeks, BX shares have fared better than the market returning -0.1% compared to SPY -0.5%.
BX support price is $120.07 and resistance is $124.99 (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.