Blackstone Group LP's President Tony James reportedly sold nearly USD88.6 million in company shares. This was his third sale this year as shares trased at a six year high.
He sold 3.25 million share between October 23 and October 25 from prices between USD26.71 until USD27.85, according to documents filed with the US Securities and Exchange Commission. The sales were managed by through a firm that was controlled by James, his spouse and a trust for his children, as described in the documents filed.
Blackstone shares, currently the world's largest manager of alternative assets in private equity and real estate, declined by USD0.25 per share to USD26.71 in NYSE trading yeterday. Overall, the stock value is up 71% to date, with share price closing at USD28.53 last October 22, its highest since 2007 when the company launched its IPO.
This year, James also sold 3.5 million shares valued nearly USD64.2 million last February and he sold another 1.5 million shares worth USD34.2 million last July.
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