Cannon Global Investment Management LLC Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Cannon Global Investment Management LLC acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the financial services provider’s stock, valued at approximately $625,000. Apollo Global Management accounts for approximately 1.0% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also modified their holdings of APO. Curated Wealth Partners LLC increased its holdings in shares of Apollo Global Management by 200.3% in the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares during the period. Capital Research Global Investors grew its holdings in Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after acquiring an additional 1,360,525 shares during the period. Jennison Associates LLC grew its holdings in Apollo Global Management by 199.8% during the first quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock worth $104,041,000 after acquiring an additional 616,575 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Apollo Global Management during the second quarter worth about $62,972,000. Finally, 1832 Asset Management L.P. grew its holdings in Apollo Global Management by 66.0% during the first quarter. 1832 Asset Management L.P. now owns 1,257,460 shares of the financial services provider’s stock worth $141,401,000 after acquiring an additional 499,930 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Down 1.6 %

Apollo Global Management stock traded down $2.26 during trading on Friday, reaching $141.00. 3,130,560 shares of the company were exchanged, compared to its average volume of 2,591,996. Apollo Global Management, Inc. has a 52-week low of $82.30 and a 52-week high of $147.04. The company has a market capitalization of $80.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.60 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $127.94 and its two-hundred day simple moving average is $119.08.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same quarter in the previous year, the business posted $1.54 EPS. On average, equities research analysts expect that Apollo Global Management, Inc. will post 6.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wolfe Research assumed coverage on Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 target price on the stock. Redburn Atlantic assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Wells Fargo & Company raised their target price on Apollo Global Management from $148.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. TD Cowen raised their target price on Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI increased their price target on Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.56.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.