Short Interest in Apollo Global Management, Inc. (NYSE:APO) Rises By 24.6%

Apollo Global Management, Inc. (NYSE:APO) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 27,320,000 shares, a growth of 24.6% from the October 15th total of 21,930,000 shares. Based on an average trading volume of 2,910,000 shares, the days-to-cover ratio is currently 9.4 days.

Apollo Global Management Stock Down 0.4 %

Shares of APO traded down $0.68 during midday trading on Friday, reaching $163.63. 2,519,381 shares of the stock were exchanged, compared to its average volume of 3,174,696. The company has a market cap of $92.59 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.69 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management has a 12-month low of $85.84 and a 12-month high of $168.67. The firm has a 50 day simple moving average of $137.45 and a 200-day simple moving average of $122.61.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a $0.463 dividend. The ex-dividend date is Monday, November 18th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. Apollo Global Management’s payout ratio is 19.33%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on APO shares. Argus cut their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Evercore ISI boosted their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price target on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Citigroup raised their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $150.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management in the 2nd quarter worth approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Apollo Global Management in the third quarter worth $35,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares during the period. Orion Capital Management LLC grew its stake in Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after buying an additional 100 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Apollo Global Management in the 3rd quarter worth $80,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Apollo Global Management

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.