The Blackstone Group L.P. (NYSE:BX) is one of the biggest winners yesterday, increasing 6%. Bloomberg explains this movement as follows:
The Blackstone Group L.P. (NYSE:BX), the world’s biggest manager of alternative assets such as private equity and real estate, posted a record fourth-quarter profit as the carrying value of its holdings gained and it sold assets. Economic net income, a measure of earnings excluding some costs, more than doubled to $1.54 billion, or $1.35 a share, from $670 million, or 59 cents, a year earlier, New York-based Blackstone said today in a statement. Analysts had expected earnings of 83 cents a share, according to the average of 16 estimates in a Bloomberg survey.
Marketwatch also published the following about The Blackstone Group L.P. (NYSE:BX):
The Blackstone Group L.P. (NYSE:BX) +6.37% shares jumped more than 6% in premarket trading after the firm reported earnings more than doubled in the fourth quarter, beating analyst expectations. The private-equity firm reported economic net income was $1.54 billion, or $1.35 earnings per share, compared to $670 million or 59 cents per share in the same period a year earlier. Revenue for the quarter was $2.69 billion, compared to $1.23 billion the year earlier. Analysts expected 86 cents per share, on $1.86 billion in revenue for the fourth quarter, according to FactSet. The firm reported assets under management were $266 billion, up 26%, boosted by increases from the firm’s investing business, through a combination of strong inflows and appreciation.
Some of the hedge funds tracked by Insider Monkey made big today because of this move. Here are the top 5 hedge funds and their gain today:
1. Robert Joseph Caruso’s Select Equity Group
Number of Blackstone Group shares: 3,337,729
Gain: More than $ million.
2. John W. Rogers’s Ariel Investments
Number of Blackstone Group shares: 2,476,790
Gain: More than $ million.
3. Jim Simons’s Renaissance Technologies
Number of Blackstone Group shares: 2,357,400
Gain: More than $ million.
4. Thomas E. Claugus’s GMT Capital
Number of Blackstone Group shares: 2,158,400
Gain: More than $ million.
5. Paul Marshall And Ian Wace’s Marshall Wace Llp
Number of Blackstone Group shares: 910,286
Gain: More than $ million.
