Director Reginald Brown Acquires 2,400 Shares of Blackstone Inc (BX)
On February 21, 2024, Reginald Brown, a director at Blackstone Inc, executed a purchase of 2,400 shares of the company's stock, as indicated by a recent SEC Filing. The transaction involved shares of Blackstone Inc (NYSE:BX), a leading global investment business investing capital on behalf of pension funds, large institutions, and individuals. Blackstone's asset management businesses include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds.
Over the past year, the insider has purchased a total of 4,242 shares and has not sold any shares of the company's stock. The recent acquisition by the insider is part of a trend observed over the past year, which includes 6 insider buys and 9 insider sells for Blackstone Inc.
On the date of the insider's purchase, shares of Blackstone Inc were trading at $125.63, giving the company a market capitalization of $95,656,954,000. The price-earnings ratio of the stock stood at 68.96, which is above both the industry median of 13.515 and the historical median price-earnings ratio for the company.
The stock's price-to-GF-Value ratio was 1.48, with a GF Value of $84.71, indicating that Blackstone Inc was significantly overvalued according to the intrinsic value estimate developed by GuruFocus. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
The insider's decision to increase their holdings in Blackstone Inc comes at a time when the stock's valuation metrics suggest a premium to both the industry and its own historical averages. The price-earnings ratio and the price-to-GF-Value ratio exceed typical levels, which could be of interest to investors monitoring insider behaviors for investment signals.
Insider buying and selling activities are closely watched by investors as they can provide insights into a stock's potential performance. Insiders may buy shares when they believe the stock is undervalued or sell shares when they believe it is overvalued. The recent insider buying activity at Blackstone Inc may suggest confidence in the company's future prospects, despite the current valuation metrics.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
