APi Group Co. (NYSE:APG – Get Rating) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 5,210,000 shares, a decline of 10.3% from the August 15th total of 5,810,000 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average daily volume of 956,200 shares, the days-to-cover ratio is currently 5.4 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on APG. JPMorgan Chase & Co. began coverage on APi Group in a research report on Friday, June 17th. They issued a "neutral" rating and a $17.00 price target for the company. Barclays cut their price objective on APi Group from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, July 8th. Bank of America raised APi Group from a "neutral" rating to a "buy" rating and set a $23.00 target price on the stock in a report on Monday, July 11th. Finally, Royal Bank of Canada lowered their target price on APi Group from $24.00 to $18.00 in a report on Monday, July 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, APi Group has an average rating of "Moderate Buy" and a consensus price target of $22.17.

APi Group Stock Up 1.3 %

Shares of APG stock traded up $0.20 on Wednesday, reaching $15.17. 6,631 shares of the stock were exchanged, compared to its average volume of 655,780. APi Group has a one year low of $14.13 and a one year high of $26.84. The company has a current ratio of 1.62, a quick ratio of 1.52 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average price of $16.40 and a 200 day moving average price of $17.55.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin acquired 21,500 shares of the company's stock in a transaction dated Monday, September 19th. The stock was bought at an average price of $15.10 per share, with a total value of $324,650.00. Following the purchase, the director now directly owns 77,396 shares in the company, valued at approximately $1,168,679.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other APi Group news, Director Anthony E. Malkin bought 21,500 shares of APi Group stock in a transaction dated Monday, September 19th. The stock was bought at an average cost of $15.10 per share, for a total transaction of $324,650.00. Following the purchase, the director now owns 77,396 shares in the company, valued at approximately $1,168,679.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anthony E. Malkin purchased 8,554 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average cost of $15.35 per share, for a total transaction of $131,303.90. Following the completion of the transaction, the director now owns 53,757 shares in the company, valued at approximately $825,169.95. The disclosure for this purchase can be found here. In the last quarter, insiders bought 31,792 shares of company stock valued at $482,592. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On APi Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APG. Principal Financial Group Inc. grew its stake in APi Group by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 17,495 shares of the company's stock valued at $451,000 after acquiring an additional 764 shares during the period. D.A. Davidson & CO. grew its stake in APi Group by 1.2% in the second quarter. D.A. Davidson & CO. now owns 67,600 shares of the company's stock valued at $1,012,000 after acquiring an additional 780 shares during the period. Nisa Investment Advisors LLC grew its stake in APi Group by 13.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,760 shares of the company's stock valued at $101,000 after acquiring an additional 800 shares during the period. US Bancorp DE grew its stake in APi Group by 8.0% in the first quarter. US Bancorp DE now owns 12,978 shares of the company's stock valued at $273,000 after acquiring an additional 965 shares during the period. Finally, Hsbc Holdings PLC grew its stake in APi Group by 11.9% in the first quarter. Hsbc Holdings PLC now owns 14,264 shares of the company's stock valued at $303,000 after acquiring an additional 1,522 shares during the period. Institutional investors own 73.28% of the company's stock.

APi Group Company Profile

(Get Rating)

APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.

Further Reading

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