APi Group Co. (NYSE:APG) Sees Large Drop in Short Interest

APi Group Co. (NYSE:APG) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 6,080,000 shares, a decrease of 7.2% from the May 31st total of 6,550,000 shares. Based on an average daily trading volume, of 1,720,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of APi Group from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of APi Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Royal Bank of Canada upped their price objective on shares of APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research note on Monday, April 8th. Jefferies Financial Group initiated coverage on APi Group in a research report on Friday, March 15th. They set a “buy” rating and a $48.00 target price on the stock. Finally, Citigroup upped their target price on APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Insiders Place Their Bets

In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction on Monday, June 17th. The stock was sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $37.21, for a total value of $5,581,500.00. Following the sale, the director now directly owns 5,828,779 shares of the company’s stock, valued at approximately $216,888,866.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The disclosure for this sale can be found here. 16.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On APi Group

Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in APi Group by 13.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 122,131 shares of the company’s stock worth $3,167,000 after purchasing an additional 14,133 shares during the period. Federated Hermes Inc. acquired a new position in APi Group during the third quarter worth $1,196,000. Qube Research & Technologies Ltd boosted its position in APi Group by 62.0% during the third quarter. Qube Research & Technologies Ltd now owns 214,201 shares of the company’s stock worth $5,554,000 after purchasing an additional 81,961 shares in the last quarter. Toronto Dominion Bank purchased a new stake in APi Group during the third quarter worth $30,000. Finally, JS Capital Management LLC grew its holdings in APi Group by 51.3% in the third quarter. JS Capital Management LLC now owns 1,165,000 shares of the company’s stock valued at $30,208,000 after purchasing an additional 395,000 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

APi Group Stock Performance

Shares of NYSE:APG traded up $0.19 on Tuesday, reaching $36.52. The company’s stock had a trading volume of 2,893,237 shares, compared to its average volume of 1,854,172. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.35 and a quick ratio of 1.26. APi Group has a 52-week low of $24.61 and a 52-week high of $39.98. The stock’s 50-day moving average is $37.28 and its two-hundred day moving average is $36.14. The stock has a market capitalization of $10.02 billion, a P/E ratio of -16.99, a PEG ratio of 1.10 and a beta of 1.57.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. APi Group had a return on equity of 37.83% and a net margin of 2.49%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $0.25 EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that APi Group will post 1.88 EPS for the current year.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.