Insider Activity Report: Blackstone (BX)

Reginald Brown, a director at Blackstone (BX), recently added 2,400 shares. The buy increased his holdings by 16 percent, and came to a total cost of $301,500.

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  • The buy came a few weeks after another director bought 293 shares, paying $37,237. Going further back, company directors have been more mixed, with some making some sales into the seven figures. The company’s chief accounting officer and general council have also been sellers over the last year.

    Overall, Blackstone insiders own 0.5 percent of shares.

    The asset manager has jumped 43 percent in the past year, as asset prices have strongly rebounded from 2022’s lows.

    Blackstone is still struggling operationally, with earnings off by 72 percent, and revenues down by 30 percent.

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  • Action to take: Asset prices continue to trend higher, and could see further gains later in the year as interest rates start to get cut. As long as Blackstone can improve its earnings and revenue picture, shares should keep trending higher.

    That makes shares a buy at current prices or on any pullback. At current prices, Blackstone also pays a 2.6 percent dividend.

    For traders, shares look likely to continue their long-term uptrend. The July $140 calls, last trading for about $4.50, could see mid double-digit returns or better in the coming months.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.

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