Últimas noticias sobre Blackstone (NYSE:BX) Bolsa

Blackstone

Blackstone is the world's largest alternative-asset manager with $1.076 trillion in total asset under management, including $808.7 billion in fee-earning assets under management, at the end of June 2024. The company has four core business segments: private equity (25% of fee-earning AUM and 28% of base management fees), real estate (37% and 42%), credit and insurance (29% and 23%), and multi-asset investing (9% and 7%). 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).

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BOX INC PFD CONV SER A 3% by Box, Inc.

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Australian Silica Quartz Group Ltd

Baudax Bio Inc Ordinary Shares

Baudax Bio Inc

Blackstone Secured Lending Fund Common Shares of Beneficial Interest

Blackstone Secured Lending Fund

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Natural Resource Holdings Inc Ordinary Shares

Deep-pocketed investors have adopted a bullish approach towards Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Blackstone. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 36% bearish. Among these notable options, 5 are puts, totaling $190,511, and 6 are calls, amounting to $355,930.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $165.0 for Blackstone during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Blackstone's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Blackstone's substantial trades, within a strike price spectrum from $95.0 to $165.0 over the preceding 30 days.
<h3>Blackstone Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727467419_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$10.65</td>
<td>$10.6</td>
<td>$10.65</td>
<td>$160.00</td>
<td>$162.9K</td>
<td>905</td>
<td style="text-align: right;">167</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/27/24</td>
<td>$13.85</td>
<td>$12.2</td>
<td>$12.85</td>
<td>$141.00</td>
<td>$70.6K</td>
<td>98</td>
<td style="text-align: right;">95</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$3.25</td>
<td>$2.64</td>
<td>$2.95</td>
<td>$95.00</td>
<td>$59.0K</td>
<td>1.8K</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$5.2</td>
<td>$4.95</td>
<td>$5.0</td>
<td>$155.00</td>
<td>$37.5K</td>
<td>2.3K</td>
<td style="text-align: right;">78</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$14.65</td>
<td>$14.6</td>
<td>$14.6</td>
<td>$165.00</td>
<td>$36.3K</td>
<td>75</td>
<td style="text-align: right;">34</td>
</tr>
</tbody>
</table>

<h3>About Blackstone</h3>
Blackstone is the world's largest alternative-asset manager with $1.076 trillion in total asset under management, including $808.7 billion in fee-earning assets under management, at the end of June 2024. The company has four core business segments: private equity (25% of fee-earning AUM and 28% of base management fees), real estate (37% and 42%), credit and insurance (29% and 23%), and multi-asset investing (9% and 7%). 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).
In light of the recent options history for Blackstone, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Blackstone</h3>
<ul>
<li>Trading volume stands at 1,329,939, with BX's price up by 1.13%, positioned at $155.21.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 20 days.</li>
</ul>
<h3>What The Experts Say On Blackstone</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $163.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Wells Fargo has revised its rating downward to Overweight, adjusting the price target to $163. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Blackstone options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Blackstone Unusual Options Activity

Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) has outperformed the market over the past 5 years by 12.28% on an annualized basis producing an average annual return of 26.59%. Currently, Blackstone has a market capitalization of $117.90 billion. 
Buying $1000 In BX: If an investor had bought $1000 of BX stock 5 years ago, it would be worth $3,142.30 today based on a price of $153.47 for BX at the time of writing.
<h3>Blackstone's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727382611_0_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $3,100 Today

Blackstone Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is <a href="https://www.gov.uk/government/news/pm-tells-us-investors-britain-is-open-for-business-as-he-secured-major-10-billion-deal-to-drive-growth-and-create-jobs">investing</a> 10 billion pounds ($13.3 billion) in England to establish what is expected to be one of Europe&#8217;s largest <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence data centers</a>.
The construction on the site is scheduled to begin next year. The center is projected to generate 4,000 jobs for British citizens and makes good on UK Prime Minister Keir Starmer&#8216;s promise to unlock new growth opportunities.
&#8216;The number one mission of my government is to grow our economy so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan,&#8221; Starmer said, calling the Blackstone deal &#8220;a huge vote of confidence.&#8221; 
Blackstone COO Jon Gray said the firm is &#8220;making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy.&#8221;
This week, Blackstone also announced that, along with Vista Equity Partners, it is acquiring Smartsheet for <a href="https://www.benzinga.com/markets/equities/24/09/41009532/smartsheet-to-be-acquired-by-blackstone-vista-in-8-4b-deal-details" target="_blank" rel="noreferrer noopener">$8.4 billion in cash at $56.50 per share</a>.
Investors can gain exposure to the stock via&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>) and WBI BullBear Quality 3000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBIL#NYSE">WBIL</a>).
Price Action: BX shares are up 0.15% at $153 at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/09/41031499/marjorie-taylor-greene-stays-loyal-to-trump-keeps-djt-stock-buys-into-warren-buffetts-berkshire-in-l" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Stays Loyal To Trump, Keeps DJT Stock, Buys Into Warren Buffett&#8217;s Berkshire In Latest Trades</a></li>
</ul>
Image: Shutterstock

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Large Cap

WBIL

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Majorie Taylor Greene disclosed new stock transactions this week, which come as public efforts to ban members of Congress from trading continue to grow over <a href="https://www.benzinga.com/general/politics/24/05/39096827/exclusive-khanna-says-shameful-congress-members-profited-from-stocks-calls-for-trading-ban-makin">potential conflicts of interest.</a>
Here are the latest trades by the Republican House member from Georgia.
 What Happened: Greene has increased her frequency of trading disclosures <a href="https://www.benzinga.com/markets/equities/24/05/38611874/marjorie-taylor-greene-reveals-new-stock-trades-after-2-year-gap-berkshire-hathway-goldman-sachs">in recent months</a> with several large batches of stock purchases announced recently after a two-year hiatus of disclosures.
On Sept. 23, Greene disclosed her latest transactions, as reported by<a href="https://www.benzinga.com/gov-trades/members/marjorie-taylor-greene"> Benzinga's Government Trades page.</a>
Here are the stocks Greene bought, with each one disclosed as a value of $1,000 to $15,000:
<ul>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</li>
<li>Berkshire Hathaway B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</li>
<li>Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>)</li>
<li>Cardinal Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>)</li>
<li>CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)</li>
<li>Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
<li>Southern Copper Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NASDAQ">SCCO</a>)</li>
<li>United Parcel Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>)</li>
</ul>
Several of these purchases add to recent stakes taken by the representative, including shares of Berkshire Hathaway, Microsoft and CrowdStrike.
The disclosure by Greene did not report any sale transactions, which means the congresswoman continues to hold her Trump Media &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares <a href="https://www.benzinga.com/general/social-media/24/08/40475137/djt-stock-hits-new-lows-since-trump-media-companys-public-debut-heres-how-much-marjorie-tayl">bought in October 2021.</a>
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Greene disclosed buying Digital World Acquisition shares back in October 2021, the SPAC that took Donald Trump's media company public in March 2024.
The transaction was done with shares trading between $67.96 to $118.80. A tweet from UnusualWhales pins the purchase price at $94.20, meaning Greene is down significantly on her $15,000 to $50,000 purchase in the Trump-linked stock. Shares of DJT trade at $13.63 at the time of writing.
Greene buying CrowdStrike shares continues to be an area to watch as <a href="https://www.benzinga.com/general/politics/24/07/39585140/marjorie-taylor-greene-buys-cybersecurity-stock-owned-by-nancy-pelosi-why-trade-could-draw-red-f">Benzinga previously reported</a> the representative sits on the Subcommittee on Cybersecurity, Information Technology and Government Innovation, which operates under the House Committee on Oversight and Accountability.
With the latest stock transactions, Greene has increased her holdings in technology stocks along with placing bets on Warren Buffett to continue powering Berkshire Hathaway along after the stock hit a $1 trillion market capitalization.
Not many can say that their investing portfolios are betting on Donald Trump and Warren Buffett, but Greene can.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Government

Politics

CRWD

GOOG

INTC

LRCX

MSFT

SCCO

Marjorie Taylor Greene Stays Loyal To Trump, Keeps DJT Stock, Buys Into Warren Buffett's Berkshire In Latest Trades

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$8.00</td>
<td>$86.1K</td>
<td>35.6K</td>
<td>2.9K</td>
</tr>
<tr>
<td>SCHW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$69.00</td>
<td>$75.7K</td>
<td>19</td>
<td>1.0K</td>
</tr>
<tr>
<td>COF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$140.00</td>
<td>$156.0K</td>
<td>540</td>
<td>408</td>
</tr>
<tr>
<td>MA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$500.00</td>
<td>$49.5K</td>
<td>355</td>
<td>345</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$170.00</td>
<td>$64.0K</td>
<td>384</td>
<td>326</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$85.00</td>
<td>$69.1K</td>
<td>1.2K</td>
<td>259</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$37.00</td>
<td>$31.0K</td>
<td>37.2K</td>
<td>200</td>
</tr>
<tr>
<td>EG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$370.00</td>
<td>$35.0K</td>
<td>1</td>
<td>150</td>
</tr>
<tr>
<td>RKT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$19.00</td>
<td>$25.2K</td>
<td>607</td>
<td>144</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$240.00</td>
<td>$25.6K</td>
<td>7.6K</td>
<td>105</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bullish, expiring in 115 day(s) on January 17, 2025. This event was a transfer of 1000 contract(s) at a $8.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $86.1K, with a price of $86.0 per contract. There were 35685 open contracts at this strike prior to today, and today 2907 contract(s) were bought and sold. 
• Regarding SCHW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), we observe a call option sweep with bearish sentiment. It expires in 24 day(s) on October 18, 2024. Parties traded 1065 contract(s) at a $69.00 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $75.7K, with a price of $71.0 per contract. There were 19 open contracts at this strike prior to today, and today 1067 contract(s) were bought and sold. 
• Regarding COF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), we observe a put option trade with bearish sentiment. It expires in 52 day(s) on November 15, 2024. Parties traded 300 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $156.0K, with a price of $520.0 per contract. There were 540 open contracts at this strike prior to today, and today 408 contract(s) were bought and sold. 
• For MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we notice a put option trade that happens to be bearish, expiring in 52 day(s) on November 15, 2024. This event was a transfer of 23 contract(s) at a $500.00 strike. The total cost received by the writing party (or parties) was $49.5K, with a price of $2155.0 per contract. There were 355 open contracts at this strike prior to today, and today 345 contract(s) were bought and sold. 
• For BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we notice a call option sweep that happens to be bullish, expiring in 178 day(s) on March 21, 2025. This event was a transfer of 80 contract(s) at a $170.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $64.0K, with a price of $800.0 per contract. There were 384 open contracts at this strike prior to today, and today 326 contract(s) were bought and sold. 
• For FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we notice a call option sweep that happens to be bearish, expiring in 115 day(s) on January 17, 2025. This event was a transfer of 144 contract(s) at a $85.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $69.1K, with a price of $480.0 per contract. There were 1219 open contracts at this strike prior to today, and today 259 contract(s) were bought and sold. 
• Regarding BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we observe a put option trade with bullish sentiment. It expires in 479 day(s) on January 16, 2026. Parties traded 100 contract(s) at a $37.00 strike. The total cost received by the writing party (or parties) was $31.0K, with a price of $310.0 per contract. There were 37245 open contracts at this strike prior to today, and today 200 contract(s) were bought and sold. 
• Regarding EG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), we observe a put option sweep with bearish sentiment. It expires in 52 day(s) on November 15, 2024. Parties traded 50 contract(s) at a $370.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $700.0 per contract. There were 1 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• Regarding RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we observe a put option sweep with bearish sentiment. It expires in 87 day(s) on December 20, 2024. Parties traded 144 contract(s) at a $19.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $25.2K, with a price of $175.0 per contract. There were 607 open contracts at this strike prior to today, and today 144 contract(s) were bought and sold. 
• Regarding AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we observe a call option trade with bullish sentiment. It expires in 479 day(s) on January 16, 2026. Parties traded 5 contract(s) at a $240.00 strike. The total cost received by the writing party (or parties) was $25.6K, with a price of $5130.0 per contract. There were 7683 open contracts at this strike prior to today, and today 105 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FUTU

SCHW

SOFI

10 Financials Stocks Whale Activity In Today's Session

Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) shares are trading higher on Tuesday after funds managed by Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and Vista Equity Partners disclosed they are acquiring the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41003241/smartsheet-to-be-acquired-by-blackstone-and-vista-equity-partners-for-8-4-billion" rel="noreferrer noopener"> company for around $8.4 billion in cash</a>.
As per the terms, the companies will fully acquire Smartsheet shares for $56.50 per share in cash at the<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40750303/blackstone-and-vista-plot-smartsheet-takeover-report" rel="noreferrer noopener"> closing of the proposed transaction</a>.
The price represents a 41% premium over the volume-weighted average closing price of Smartsheet stock for the 90 trading days ending July 17, 2024, and a 16% premium over the highest closing price in the past 12 months.
The Smartsheet Board unanimously supported the deal and recommended that shareholders vote in favor of it at a special meeting.
The merger agreement includes a 45-day &#8220;go-shop&#8221; period, ending on November 8, 2024, during which Smartsheet and its advisors can actively seek alternative acquisition proposals. Smartsheet&#8217;s Board of Directors can terminate the agreement to accept a superior proposal.
The transaction is expected to close in the fourth quarter of Smartsheet&#8217;s fiscal year, ending January 31, 2025, pending shareholder approval, regulatory clearances, and other conditions.
Post deal closure, Smartsheet will become a privately held company, with its Class A common stock delisted, while continuing to operate under its current name and brand.
Blackstone plans to invest in Smartsheet through its flagship private equity vehicle and its private equity strategy tailored for individual investors.
Martin Brand, Head of North America Private Equity and Global Co-Head of Technology Investing at Blackstone, and Sachin Bavishi, a Senior Managing Director at Blackstone, said, &#8220;Across increasingly distributed, cross-functional and global workforces, Smartsheet&#8217;s innovative and market-leading solutions are mission-critical in helping teams collaborate at scale to achieve superior results.&#8221;
&#8220;Modern enterprises rely on Smartsheet&#8217;s simple and scalable solutions to manage a diverse range of business-critical processes every single day because they enable seamless collaboration, enhanced productivity and faster and more informed decision-making,&#8221; stated Monti Saroya, Co-Head of Vista&#8217;s Flagship Fund and Senior Managing Director, and John Stalder, Managing Director at Vista.
This month, Smartsheet reported a second-quarter adjusted EPS of $0.44, surpassing the $0.29 estimate. Sales reached $276.41 million,&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40740114" rel="noreferrer noopener">beating the $274.19 million estimate</a>.
Investors can gain exposure to Smartsheet via Managed Portfolio Series Tremblant Global ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOGA#NYSE">TOGA</a>) and&nbsp;Motley Fool Small-Cap Growth ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/TMFS#BATS">TMFS</a>).
Price Action: SMAR shares are up 6.56% at $55.51 at the last check Tuesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40985822/smartsheet-is-a-smart-buy-for-traders-and-investors-heres-why" target="_blank" rel="noreferrer noopener">Smartsheet Is a Smart Buy for Traders and Investors: Here&#8217;s Why</a></li>
</ul>

Mid Cap

Movers

SMAR

TMFS

TOGA

Smartsheet To Be Acquired By Blackstone, Vista In $8.4B Deal: Details

Smartsheet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smar#NYSE">SMAR</a>) is a smart buy because of its growth, operational quality, cash flow, and capital return. That&#39;s why private equity firms are in talks to buy it; they see deep value in the business and its stock. The takeaway is that Smartsheet will either get taken over at a premium to today&#39;s prices or won&#39;t. If it does, investors stand to make a quick 10%, and the gains will be greater if it doesn&#39;t.&nbsp;
What is Smartsheet? It is a cloud-based SaaS firm focused on workflow and project management. Clients include nearly 85% of the Fortune 500 and 90% of the Fortune 100, statistics which prove its utility for business. Firms looking to take over the business include a partnership between Vista Equity and Blackstone (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>), which are reported to be nearing finalization on an agreement worth $8 billion. If completed, it would be among the largest takeovers of the year. The $8 billion target price works out to about $56 per share or a nearly 10% premium to the market cap, with shares trading near $52.50.&nbsp;
<h2>Smartsheet Is Growing and Monetizes AI Today</h2>
Smartsheet reported a solid Q2 and gave guidance indicating strengths will continue through the year&#39;s end. Revenue growth is slowing, but the $276.6 reported is up 17% compared to last year and outpaced the consensus by 70 basis points on increasing client count and deepening service penetration. Subscription revenue, the company&#39;s core business, is up 19%, offset by an 8% decline in Professional Services.&nbsp;
The critical details concerning revenue are the 17% increase in ARR and 113% net retention rate, which point to sustained growth at current levels as the client count grows and existing clients lean into expanded services. Regarding the client count, the number of clients contributing more than $100K in ARR grew by 23%, followed by a 17% increase in clients contributing more than $500K in ARR and a 6% increase in small businesses.&nbsp;
The margin news is the best in the report, with GAAP and adjusted margin improving at all levels. Adjusted margin, which matters regarding cash flow, improved by 800 basis points to 16%, doubling last year&#39;s results. The net result is a GAAP profit of $0.06 compared to last year&#39;s losses, and adjusted EPS is up nearly 3x to $0.44, beating the consensus by 5000 basis points or 50% better-than-expected. The cash flow and FCF set records with FCF of $57.2 million, or 21% of the revenue, and are expected to remain strong for the foreseeable future.&nbsp;
<h2>Smartsheet Gives Cautious Guidance, Shares Rise</h2>
The only bad news in Smartsheet&#39;s report is the guidance, and even that is not bad, only in alignment with the robust analysts&#39; expectations. The company expects sequential and YoY revenue growth, with YoY growth slowing to a pace of 15% to 16%, a low bar to beat. The earnings are expected to run near $1.375 for the year, which is also a low bar to beat, given the momentum in revenue growth and widening margin and a primary reason analysts lifted their price targets for the stock.&nbsp;
MarketBeat.com tracked 10 analyst revisions the first day after the release, with 80% raising their price targets and the two outliers reiterating targets above the consensus. The 10 lead to the high-end range, or another 4% to 5% upside, in addition to the 5% implied by the consensus. A move to consensus would set a multi-year high and break the market out of its consolidation range, setting it up to continue higher in 2024.&nbsp;
The technical action is suggestive. The market is moving up from the bottom of a range and is on track to break out of the range and set new highs. The current highs are providing resistance but may be broken soon. If so, the technical targets are the magnitude of the trading range added to the breakout point or a gain of $26 at the low end. The high-end target is the range magnitude as a percentage of the price or 100% from low to high. Adding that to the breakout point puts this stock above $100.
<img alt="Smartsheet SMAR stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240917082011_chart-9172024.png" style="height:426px; width:917px" />
The article &quot;<a href="https://www.marketbeat.com/originals/smartsheet-is-a-smart-buy-for-traders-and-investors-heres-why/">Smartsheet Is a Smart Buy for Traders and Investors: Here&#39;s Why</a>&quot; first appeared on MarketBeat.

Earnings

Guidance

Price Target

Technicals

Analyst Ratings

Tech

Smartsheet Is a Smart Buy for Traders and Investors: Here's Why

WIIM

ALLY

ARES

BBVA

CRBG

LPLA

UPST

Shares of companies in the broader financial services and banking sectors are trading higher amid overall market strength following the Fed's rate cut, which could drive a rise in spending and lending demand.

Investors with a lot of money to spend have taken a bullish stance on Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BX, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for Blackstone.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $199,379, and 2 are calls, for a total amount of $58,250.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $152.5 and $180.0 for Blackstone, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Blackstone stands at 258.8, with a total volume reaching 2,615.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Blackstone, situated within the strike price corridor from $152.5 to $180.0, throughout the last 30 days.
<h3>Blackstone Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726580829_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$14.45</td>
<td>$13.25</td>
<td>$14.45</td>
<td>$165.00</td>
<td>$50.5K</td>
<td style="text-align: right;">23</td>
<td style="text-align: right;">35</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.92</td>
<td>$1.59</td>
<td>$1.59</td>
<td>$152.50</td>
<td>$35.7K</td>
<td style="text-align: right;">104</td>
<td style="text-align: right;">605</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$1.76</td>
<td>$1.59</td>
<td>$1.59</td>
<td>$152.50</td>
<td>$33.9K</td>
<td style="text-align: right;">104</td>
<td style="text-align: right;">348</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$15.0</td>
<td>$12.0</td>
<td>$12.0</td>
<td>$180.00</td>
<td>$30.0K</td>
<td style="text-align: right;">59</td>
<td style="text-align: right;">16</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$5.65</td>
<td>$5.5</td>
<td>$5.65</td>
<td>$160.00</td>
<td>$28.2K</td>
<td style="text-align: right;">946</td>
<td style="text-align: right;">254</td>
</tr>
</tbody>
</table>

<h3>About Blackstone</h3>
Blackstone is the world's largest alternative-asset manager with $1.076 trillion in total asset under management, including $808.7 billion in fee-earning assets under management, at the end of June 2024. The company has four core business segments: private equity (25% of fee-earning AUM and 28% of base management fees), real estate (37% and 42%), credit and insurance (29% and 23%), and multi-asset investing (9% and 7%). 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).
Following our analysis of the options activities associated with Blackstone, we pivot to a closer look at the company's own performance.
<h3>Blackstone's Current Market Status</h3>
<ul>
<li>With a volume of 77,149, the price of BX is up 0.42% at $155.21. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 30 days.</li>
</ul>
<h3>What Analysts Are Saying About Blackstone</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $148.5.
<ul>
<li>An analyst from Wells Fargo downgraded its action to Overweight with a price target of $163. </li>
<li>In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Neutral, setting a price target of $134. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Blackstone options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Blackstone's Options Frenzy: What You Need to Know

Vista Equity And Blackstone Close To Deal To Acquire Smartsheet For Approximately $56 Per Share, Valuing The Company At Nearly $8B

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AGNC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$10.00</td>
<td>$95.6K</td>
<td>68.9K</td>
<td>6.8K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$23.00</td>
<td>$49.5K</td>
<td>15.2K</td>
<td>2.7K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$52.50</td>
<td>$49.7K</td>
<td>13.0K</td>
<td>2.2K</td>
</tr>
<tr>
<td>SQ</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$67.00</td>
<td>$900.0K</td>
<td>0</td>
<td>2.0K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$150.00</td>
<td>$112.9K</td>
<td>1.0K</td>
<td>1.2K</td>
</tr>
<tr>
<td>AIG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$77.50</td>
<td>$175.0K</td>
<td>793</td>
<td>1.0K</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$55.00</td>
<td>$56.9K</td>
<td>5.5K</td>
<td>787</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$145.00</td>
<td>$35.0K</td>
<td>546</td>
<td>253</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$150.00</td>
<td>$30.0K</td>
<td>2.7K</td>
<td>118</td>
</tr>
<tr>
<td>V</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$290.00</td>
<td>$45.9K</td>
<td>6</td>
<td>52</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding AGNC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>), we observe a call option sweep with bearish sentiment. It expires in 123 day(s) on January 17, 2025. Parties traded 1518 contract(s) at a $10.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $95.6K, with a price of $63.0 per contract. There were 68988 open contracts at this strike prior to today, and today 6871 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a call option sweep with bullish sentiment. It expires in 4 day(s) on September 20, 2024. Parties traded 1500 contract(s) at a $23.00 strike. This particular call needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $49.5K, with a price of $33.0 per contract. There were 15281 open contracts at this strike prior to today, and today 2755 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on September 20, 2024. This event was a transfer of 1772 contract(s) at a $52.50 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $49.7K, with a price of $28.0 per contract. There were 13085 open contracts at this strike prior to today, and today 2253 contract(s) were bought and sold. 
• For SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we notice a put option trade that happens to be bullish, expiring in 46 day(s) on November 1, 2024. This event was a transfer of 2000 contract(s) at a $67.00 strike. The total cost received by the writing party (or parties) was $900.0K, with a price of $450.0 per contract. There were 0 open contracts at this strike prior to today, and today 2001 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bullish, expiring in 123 day(s) on January 17, 2025. This event was a transfer of 34 contract(s) at a $150.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $112.9K, with a price of $3321.0 per contract. There were 1074 open contracts at this strike prior to today, and today 1295 contract(s) were bought and sold. 
• For AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we notice a call option sweep that happens to be bullish, expiring in 60 day(s) on November 15, 2024. This event was a transfer of 1000 contract(s) at a $77.50 strike. This particular call needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $175.0K, with a price of $175.0 per contract. There were 793 open contracts at this strike prior to today, and today 1002 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a call option sweep that happens to be bullish, expiring in 32 day(s) on October 18, 2024. This event was a transfer of 633 contract(s) at a $55.00 strike. This particular call needed to be split into 36 different trades to become filled. The total cost received by the writing party (or parties) was $56.9K, with a price of $90.0 per contract. There were 5529 open contracts at this strike prior to today, and today 787 contract(s) were bought and sold. 
• For KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), we notice a call option trade that happens to be neutral, expiring in 123 day(s) on January 17, 2025. This event was a transfer of 100 contract(s) at a $145.00 strike. The total cost received by the writing party (or parties) was $35.0K, with a price of $350.0 per contract. There were 546 open contracts at this strike prior to today, and today 253 contract(s) were bought and sold. 
• Regarding BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we observe a call option sweep with bullish sentiment. It expires in 123 day(s) on January 17, 2025. Parties traded 21 contract(s) at a $150.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $1434.0 per contract. There were 2771 open contracts at this strike prior to today, and today 118 contract(s) were bought and sold. 
• For V (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), we notice a call option sweep that happens to be bullish, expiring in 46 day(s) on November 1, 2024. This event was a transfer of 50 contract(s) at a $290.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $45.9K, with a price of $920.0 per contract. There were 6 open contracts at this strike prior to today, and today 52 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AFRM

AGNC

COIN

HOOD

10 Financials Stocks With Whale Alerts In Today's Session

High-rolling investors have positioned themselves bullish on Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 45 options trades for Blackstone. This is not a typical pattern.
The sentiment among these major traders is split, with 51% bullish and 42% bearish. Among all the options we identified, there was one put, amounting to $50,400, and 44 calls, totaling $2,715,443.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $175.0 for Blackstone over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Blackstone options trades today is 1749.93 with a total volume of 48,148.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Blackstone's big money trades within a strike price range of $100.0 to $175.0 over the last 30 days.
<h3>Blackstone Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726246207_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$16.7</td>
<td>$15.7</td>
<td>$15.73</td>
<td>$160.00</td>
<td>$235.7K</td>
<td>106</td>
<td>156</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$15.85</td>
<td>$14.4</td>
<td>$14.99</td>
<td>$135.00</td>
<td>$224.9K</td>
<td>4.0K</td>
<td>151</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$7.65</td>
<td>$7.6</td>
<td>$7.6</td>
<td>$150.00</td>
<td>$151.2K</td>
<td>2.2K</td>
<td>2.0K</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$5.75</td>
<td>$4.6</td>
<td>$5.2</td>
<td>$145.00</td>
<td>$144.5K</td>
<td>4.9K</td>
<td>357</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$7.7</td>
<td>$7.65</td>
<td>$7.7</td>
<td>$150.00</td>
<td>$140.3K</td>
<td>2.2K</td>
<td>702</td>
</tr>
</tbody>
</table>

<h3>About Blackstone</h3>
Blackstone is the world's largest alternative-asset manager with $1.076 trillion in total asset under management, including $808.7 billion in fee-earning assets under management, at the end of June 2024. The company has four core business segments: private equity (25% of fee-earning AUM and 28% of base management fees), real estate (37% and 42%), credit and insurance (29% and 23%), and multi-asset investing (9% and 7%). 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).
In light of the recent options history for Blackstone, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Blackstone's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,637,000, with BX's price up by 0.64%, positioned at $147.44.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 34 days.</li>
</ul>
<h3>What Analysts Are Saying About Blackstone</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $147.66666666666666.
<ul>
<li>An analyst from Redburn Atlantic downgraded its action to Neutral with a price target of $134. </li>
<li>Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Blackstone, targeting a price of $146. </li>
<li>An analyst from Wells Fargo downgraded its action to Overweight with a price target of $163. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Blackstone options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Looking At Blackstone's Recent Unusual Options Activity

<a href="https://www.bloomberg.com/news/articles/2024-09-13/vista-blackstone-seek-3-2-billion-private-debt-for-smartsheet?sref=y3YMCJ4e" title="https://www.bloomberg.com/news/articles/2024-09-13/vista-blackstone-seek-3-2-billion-private-debt-for-smartsheet?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-09-13/vista-blackstone-seek-3-2-billion-private-debt-for-smartsheet?sref=y3YMCJ4e</a>

Financing

'Vista, Blackstone Seek $3.2B Private Debt For Smartsheet' - Bloomberg News

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PGR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$255.00</td>
<td>$399.7K</td>
<td>1.6K</td>
<td>2.1K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$21.00</td>
<td>$37.8K</td>
<td>4.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$200.00</td>
<td>$37.0K</td>
<td>2.3K</td>
<td>917</td>
</tr>
<tr>
<td>CRBG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$26.00</td>
<td>$33.5K</td>
<td>619</td>
<td>767</td>
</tr>
<tr>
<td>IVZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$15.00</td>
<td>$47.3K</td>
<td>727</td>
<td>412</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$45.00</td>
<td>$122.0K</td>
<td>1.1K</td>
<td>203</td>
</tr>
<tr>
<td>MA</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$500.00</td>
<td>$50.4K</td>
<td>128</td>
<td>64</td>
</tr>
<tr>
<td>BK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$75.00</td>
<td>$26.7K</td>
<td>45</td>
<td>60</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$100.00</td>
<td>$242.5K</td>
<td>351</td>
<td>53</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$410.00</td>
<td>$34.1K</td>
<td>65</td>
<td>6</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For PGR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), we notice a call option trade that happens to be bullish, expiring in 8 day(s) on September 20, 2024. This event was a transfer of 1950 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $399.7K, with a price of $205.0 per contract. There were 1673 open contracts at this strike prior to today, and today 2110 contract(s) were bought and sold. 
• For HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we notice a call option sweep that happens to be bullish, expiring in 36 day(s) on October 18, 2024. This event was a transfer of 200 contract(s) at a $21.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $37.8K, with a price of $189.0 per contract. There were 4126 open contracts at this strike prior to today, and today 1655 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option trade that happens to be bullish, expiring in 99 day(s) on December 20, 2024. This event was a transfer of 28 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $37.0K, with a price of $1324.0 per contract. There were 2314 open contracts at this strike prior to today, and today 917 contract(s) were bought and sold. 
• Regarding CRBG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>), we observe a put option sweep with bearish sentiment. It expires in 36 day(s) on October 18, 2024. Parties traded 479 contract(s) at a $26.00 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $33.5K, with a price of $70.0 per contract. There were 619 open contracts at this strike prior to today, and today 767 contract(s) were bought and sold. 
• For IVZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>), we notice a call option sweep that happens to be neutral, expiring in 36 day(s) on October 18, 2024. This event was a transfer of 412 contract(s) at a $15.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $47.3K, with a price of $115.0 per contract. There were 727 open contracts at this strike prior to today, and today 412 contract(s) were bought and sold. 
• Regarding BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we observe a put option trade with bullish sentiment. It expires in 127 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $122.0K, with a price of $610.0 per contract. There were 1151 open contracts at this strike prior to today, and today 203 contract(s) were bought and sold. 
• For MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we notice a put option trade that happens to be neutral, expiring in 99 day(s) on December 20, 2024. This event was a transfer of 22 contract(s) at a $500.00 strike. The total cost received by the writing party (or parties) was $50.4K, with a price of $2291.0 per contract. There were 128 open contracts at this strike prior to today, and today 64 contract(s) were bought and sold. 
• Regarding BK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), we observe a call option trade with neutral sentiment. It expires in 491 day(s) on January 16, 2026. Parties traded 50 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $26.7K, with a price of $535.0 per contract. There were 45 open contracts at this strike prior to today, and today 60 contract(s) were bought and sold. 
• For BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we notice a call option trade that happens to be bullish, expiring in 281 day(s) on June 20, 2025. This event was a transfer of 50 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $242.5K, with a price of $4850.0 per contract. There were 351 open contracts at this strike prior to today, and today 53 contract(s) were bought and sold. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a call option trade that happens to be bearish, expiring in 827 day(s) on December 18, 2026. This event was a transfer of 3 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $34.1K, with a price of $11370.0 per contract. There were 65 open contracts at this strike prior to today, and today 6 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Providing a diverse range of perspectives from bullish to bearish, 10 analysts have published ratings on Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) in the last three months.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $142.2, a high estimate of $164.00, and a low estimate of $120.00. This current average reflects an increase of 7.22% from the previous average price target of $132.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1726149736_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Blackstone among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Brown</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Overweight</td>
<td>$163.00</td>
<td>-</td>
</tr>
<tr>
<td>Nicholas Watts</td>
<td>Redburn Atlantic</td>
<td>Announces</td>
<td>Neutral</td>
<td>$134.00</td>
<td>-</td>
</tr>
<tr>
<td>Brian Brungardt</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$146.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Michael Cyprys</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$164.00</td>
<td>$144.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$141.00</td>
<td>$126.00</td>
</tr>
<tr>
<td>Craig Siegenthaler</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$145.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Bill Katz</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$120.00</td>
<td>$114.00</td>
</tr>
<tr>
<td>Crispin Love</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$149.00</td>
<td>$134.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$126.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Crispin Love</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$134.00</td>
<td>$143.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Blackstone. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Blackstone compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Blackstone's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Blackstone's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Blackstone analyst ratings.</a>
<h2>Unveiling the Story Behind Blackstone</h2>
Blackstone is the world's largest alternative-asset manager with $1.076 trillion in total asset under management, including $808.7 billion in fee-earning assets under management, at the end of June 2024. The company has four core business segments: private equity (25% of fee-earning AUM and 28% of base management fees), real estate (37% and 42%), credit and insurance (29% and 23%), and multi-asset investing (9% and 7%). 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).
<h3>Key Indicators: Blackstone's Financial Health</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Decline in Revenue: Over the 3 months period, Blackstone faced challenges, resulting in a decline of approximately -6.92% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 19.38%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Blackstone's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.45% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Blackstone's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 1.11%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.73, Blackstone faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

10 Analysts Assess Blackstone: What You Need To Know

Wells Fargo analyst Michael Brown initiates coverage on Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) with a Overweight rating and announces Price Target of $163.

Initiation

Wells Fargo Initiates Coverage On Blackstone with Overweight Rating, Announces Price Target of $163

Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) has outperformed the market over the past 15 years by 4.85% on an annualized basis producing an average annual return of 16.34%. Currently, Blackstone has a market capitalization of $109.25 billion. 
Buying $1000 In BX: If an investor had bought $1000 of BX stock 15 years ago, it would be worth $10,165.12 today based on a price of $142.21 for BX at the time of writing.
<h3>Blackstone's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726000230_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 15 Years Ago, You Would Have $10,000 Today

Blackstone Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and Vista Equity Partners, part of a private equity consortium, are reportedly in talks to acquire Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>), which has a market value of around $7 billion.
A deal could be finalized in the coming weeks if discussions remain on track, reported Reuters. The specific terms of the potential agreement have not yet been disclosed.
As per the report, Smartsheet has not responded to requests for comment, while Vista, which holds a 4.7% stake in the company, and Blackstone declined to comment.
On Thursday, Smartsheet reported a second-quarter adjusted EPS of $0.44, surpassing the $0.29 estimate. Sales reached $276.41 million, <a target="_blank" href="https://www.benzinga.com//node/40740114" rel="noreferrer noopener">beating the $274.19 million estimate</a>.
Blackstone has been on an acquisition spree lately. Yesterday, Blackstone and CPP Investments announced that they are set to acquire&nbsp;AirTrunk&nbsp;from Macquarie Asset Management and the Public Sector Pension<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40705246/blackstone-makes-largest-asia-pacific-investment-with-airtrunk-buyout-amid-ai-and-data-boom-deta" rel="noreferrer noopener"> Investment Board for over A$24 billion</a>.
On Monday, Blackstone affiliates reached a deal to acquire an 80% stake in the Burstone Group&#8217;s Pan-European Logistics (PEL) platform,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40687136/whats-going-on-with-blackstone-stock-premarket-tuesday" rel="noreferrer noopener">valued at €1.022 billion (R20 billion)</a>.
Investors can gain exposure to the BX stock via&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>) and&nbsp;Invesco Global Listed Private Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSP#NYSE">PSP</a>).
Price Action: BX shares are up 0.94% at $139.57 and SMAR stock is up 8.62% at $53.67 at the last check Friday.
Image via Unsplash/ Headway
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Singer Barry Manilow is known for many hit songs including "Looks Like We Made It." Manilow could soon be saying "looks like we made it" to the point of a lawsuit as he takes on song catalog company <a href="https://www.benzinga.com/markets/equities/24/04/38483981/blackstone-clinches-hipgnosis-deal-expanding-music-rights-portfolio">Hipgnosis Songs Fund.</a>
What Happened: Hipgnosis Songs Fund is one of several song catalog companies under the Hipgnosis brand that are owned by Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) thanks to an acquisition earlier this year.
Manilow is one of the many musicians who sold their song catalogs in recent years. The sale of his song catalog back in 2020 is now the subject of a $1.5 million lawsuit against Hipgnosis Songs Fund.
The singer and Stiletto Entertainment filed the lawsuit for $1.5 million in unpaid bonus funds in U.S. District Court, according to a report from <a href="https://variety.com/2024/music/news/barry-manilow-sues-hipgnosis-unpaid-funds-1236129154/">Variety</a>. The lawsuit also accuses Hipgnosis of fraud, fraudulent misrepresentation and breach of contract.
Hipgnosis sued Manilow last month for breach of contract. A Hipgnosis representative <a href="https://www.ft.com/content/48f36737-29f9-412f-b7d8-998c9c197334">told </a>the Financial Times its lawsuit came due to a "difference in understanding of certain clauses in the sale agreement regarding bonus payments."
The song catalog company said two $750,000 bonus payments on top of the original $7.5 million paid for the catalog were contingent on Manilow's songs having income increase 10% or more in the subsequent years after the purchase. Hipgnosis said the songs did not meet the conditions for the bonuses.
Manilow's lawsuit accuses Hipgnosis of not pursuing items originally discussed including licensing for commercials, films and television and reissuing albums.
"Hipgnosis promised to provide a full-time, dedicated team of qualified industry professionals to devote themselves to optimizing the value of the royalties they purchased," the lawsuit from Manilow reads.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/08/40515995/michael-jacksons-1-5b-catalog-lands-court-approval-for-sale-thriller-for-sony">Michael Jackson&#8217;s $1.5B Catalog Lands Court Approval For Sale — &#8216;Thriller&#8217; For Sony</a>
Why It's Important: The lawsuit could be a big deal in the current era of older musicians cashing out on their song catalogs to large song-owning companies such as Hipgnosis and Blackstone.
A potential ruling on whether Hipgnosis failed in living up to promises of marketing and new album releases could be used for more musicians in the future if they choose to take on their Hipgnosis contracts.
Hipgnosis was launched in 2018 by music executive and manager Merck Mercuriadis. The company spent over $2 billion on the rights to songs to create one of the largest song catalog companies globally.
The company has the rights to songs from the Red Hot Chili Peppers, Journey, The Chainsmokers, Shakira, Neil Young, Ed Sheeran, Justin Bieber, Shawn Mendes and hundreds more.
"Hipgnosis owns and manages over $3 billion worth of the most successful and culturally important songs of all time. Our portfolio consists of over 40,000 songs from more than 150 catalogues. We create value by optimizing revenue generation, driving consumption and advocating on behalf of songwriters," the Hipgnosis <a href="https://www.hipgnosissongs.com/">website </a>reads.
One of the largest deals for Hipgnosis was a $200 million deal for Justin Bieber's song catalog <a href="https://www.benzinga.com/general/entertainment/23/01/30571797/justin-bieber-lands-200m-catalog-deal-with-this-blackstone-owned-company-why-artists-privat">in January 2023,</a> marking one of the biggest deals for an artist in the current generation of singers.
Blackstone paid $1.6 billion to acquire the company, adding over 40,000 songs to its portfolio, which also includes other song catalog companies and rights.
Mercuriadis stepped down from Hipgnosis in July. Blackstone acquired the company after its share price had significantly fallen and shareholders pushed for changes.
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Photo: Raif Liebhold via Shutterstock

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