The Blackstone Group Inc.

The Blackstone Group Inc. (NYSE: BX) is an alternative investment management company that offers various investment funds focused on real estate, private equity, public debt, growth equity, non-investment grade credit, real assets, and secondary funds.

Key Highlights

• The company reported a surge of 110.30% in total revenue to USD 5.29 billion in Q2FY21 (ended June 30, 2021) compared to USD 2.52 billion in Q2FY20.
• Net income for Q2FY21 expanded to USD 1.31 billion from USD 568.27 million in Q2FY20.
• Relatively high ROE 16.1% in Q2FY21 whereas the industry median stood at 5.8%.
• As announced on August 02, 2021, BX and Hudson Pacific Properties, Inc. (NYSE: HPP) collaborated to create a state-of-the-art studio facility in Central London, for an estimated investment of GBP 700 million. The new facility will be an extension of the companies’ Sunset Studios platform.
• On July 29, 2021, BX announced the pricing of an offering of USD 650 million of 1.625% senior notes due 2028, USD 800 million of 2.000% senior notes due 2032 and USD 550 million of 2.850% senior notes due 2051 of its indirect subsidiary, Blackstone Holdings Finance Co. L.L.C.
• Stock is currently trading above its crucial long-term as well as short-term support levels of 50-day and 200-day SMA levels, a bullish indicator.
• Stock is currently leaning towards the higher band of the 52-week range of USD 49.26 to USD 117.15.
• BX’s share price increased 66.15% and 124.41% in past six and nine months, respectively.
  
  

Technical Price Chart (as of August 02, 2021). Analysis by Kalkine

Conclusion: Considering the significant uptick in the stock price, we feel the present share price adequately reflects the robust business fundamentals and choose to remain on the sidelines. Hence, we recommend an “Expensive” rating on the stock at the closing price of USD 115.19, down 0.07% as of August 02, 2021.

*The reference data in this report has been partly sourced from REFINITIV.