Paloma Partners Management Co Sells 152,316 Shares of APi Group Co. (NYSE:APG)

Paloma Partners Management Co lowered its stake in shares of APi Group Co. (NYSE:APG) by 93.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,590 shares of the company’s stock after selling 152,316 shares during the quarter. Paloma Partners Management Co’s holdings in APi Group were worth $350,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in APi Group by 21.1% during the 2nd quarter. Swedbank AB now owns 1,860,000 shares of the company’s stock worth $69,992,000 after acquiring an additional 324,000 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its stake in shares of APi Group by 79.6% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 269,087 shares of the company’s stock valued at $8,885,000 after purchasing an additional 119,229 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of APi Group in the 3rd quarter valued at about $881,000. Dynamic Technology Lab Private Ltd bought a new position in shares of APi Group in the 3rd quarter valued at about $2,586,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of APi Group by 60.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 99,647 shares of the company’s stock valued at $3,290,000 after purchasing an additional 37,531 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Up 2.3 %

APi Group stock opened at $38.50 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of -19.54 and a beta of 1.55. The company’s 50 day simple moving average is $34.91 and its 200 day simple moving average is $35.58. APi Group Co. has a fifty-two week low of $29.98 and a fifty-two week high of $39.98.

APi Group (NYSE:APG) last announced its earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, sell-side analysts anticipate that APi Group Co. will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 11,568 shares of APi Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the sale, the director now directly owns 1,134,635 shares in the company, valued at $41,958,802.30. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 53,868 shares of APi Group stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the sale, the director now owns 5,478,779 shares in the company, valued at $202,002,581.73. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on APG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of APi Group in a research note on Friday, November 1st. Robert W. Baird raised their target price on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Barclays raised their target price on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and an average target price of $43.71.

About APi Group

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.