The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Blackstone Mortgage Trust Inc. shares valued at $21,373 were sold by Keenan Katharine A on Dec 30. At $21.14 per share, Keenan Katharine A sold 1,011 shares. The insider’s holdings dropped to 167,409 shares worth approximately $3.46 million following the completion of this transaction.
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Also, Keenan Katharine A sold 2,299 shares, netting a total of over 54,095 in proceeds. Following the sale of shares at $23.53 each, the insider now holds 168,420 shares.
Before that, Marone Anthony F. JR had sold 490 shares from its account. In a trade valued at $11,537, the Chief Financial Officer traded Blackstone Mortgage Trust Inc. shares for $23.55 each. Upon closing the transaction, the insider’s holdings decreased to 490 shares, worth approximately $1.13 million.
As published in a research note from Keefe Bruyette on December 15, 2022, Blackstone Mortgage Trust Inc. [BXMT] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $26. This represents a 20.5% premium over Thursday’s closing price. Analysts at Keefe Bruyette upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late November. As of April 26, 2021, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for BXMT. Earlier on April 13, 2021, BTIG Research initiated its rating. Their recommendation was “a Buy” for BXMT stock.
Analyzing BXMT Stock Performance
On Thursday, Blackstone Mortgage Trust Inc. [NYSE: BXMT] plunged -0.48% to $20.67. The stock’s lowest price that day was $20.395, but it reached a high of $20.75 in the same session. During the last five days, there has been a drop of approximately -5.83%. Over the course of the year, Blackstone Mortgage Trust Inc. shares have dropped approximately -2.36%. Shares of the company reached a 52-week high of $24.80 on 02/02/23 and a 52-week low of $20.40 on 03/02/23. A 50-day SMA is recorded $22.61, while a 200-day SMA reached $26.11. Nevertheless, trading volume fell to 2.65 million shares from 2.14 million shares the previous day.
Support And Resistance Levels for Blackstone Mortgage Trust Inc. (BXMT)
According to the 24-hour chart, there is a support level at 20.46, which, if violated, would cause prices to drop to 20.25. In the upper region, resistance lies at 20.82. The next price resistance is at 20.96. RSI (Relative Strength Index) is 30.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.09, which suggests the price will decrease in the coming days. Percent R is at 89.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Blackstone Mortgage Trust Inc. subject to short interest?
Stocks of Blackstone Mortgage Trust Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.87 million shares to 9.47 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 8.6 million shares. A jump of 9.19% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.78 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.78.
Which companies own the most shares of Blackstone Mortgage Trust Inc. (BXMT)?
According to The Vanguard Group, Inc. filings, the company currently owns 15,635,401 shares, which is about 9.15% of the total BXMT shares outstanding. The investor’s shares have appreciated by 363,891 from its previous 13-F filing of 15271510.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $299,922,601. SSgA Funds Management, Inc. acquire a 0.85% interest valued at $83.74 million while Geode Capital Management LLC purchased a 191,244 stake. A total of 86,613 shares of Blackstone Mortgage Trust Inc. were bought by Charles Schwab Investment Managem during the quarter, and -1,434,106 were sold by Morgan Stanley Smith Barney LLC. In its current portfolio, Merrill Lynch, Pierce, Fenner & S holds 2,005,823 shares valued at $47.82 million.