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Short Interest in APi Group Co. (NYSE:APG) Declines By 10.3%

Financial News Live · Sep 21, 2022 13:01

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.

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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.

APi Group (NYSE:APG – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. APi Group had a return on equity of 13.70% and a net margin of 1.08%. The firm's revenue was up 68.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. On average, sell-side analysts anticipate that APi Group will post 1.33 earnings per share for the current fiscal year.

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

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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.