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Short Interest in Apollo Global Management, Inc. (NYSE:APO) Rises By 12.9%

kopsource · Oct 2, 2022 20:52

Apollo Global Management, Inc. (NYSE:APO – Get Rating) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 12,250,000 shares, a growth of 12.9% from the August 31st total of 10,850,000 shares. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is presently 5.1 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America raised Apollo Global Management from an "underperform" rating to a "neutral" rating in a research note on Friday, September 23rd. They noted that the move was a valuation call. Morgan Stanley raised their target price on Apollo Global Management from $60.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Monday, August 15th. Oppenheimer raised their price objective on shares of Apollo Global Management from $60.00 to $61.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. Barclays initiated coverage on shares of Apollo Global Management in a report on Wednesday, August 31st. They issued an "overweight" rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Apollo Global Management from $73.00 to $66.00 and set an "overweight" rating for the company in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.72.

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Insiders Place Their Bets

In other Apollo Global Management news, Director Walter Joseph Clayton III purchased 5,000 shares of the firm's stock in a transaction on Tuesday, August 30th. The shares were purchased at an average cost of $56.07 per share, with a total value of $280,350.00. Following the completion of the purchase, the director now owns 29,737 shares of the company's stock, valued at approximately $1,667,353.59. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Martin Kelly sold 20,000 shares of the firm's stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $60.86, for a total value of $1,217,200.00. Following the sale, the chief financial officer now directly owns 484,275 shares of the company's stock, valued at $29,472,976.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter Joseph Clayton III bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 30th. The stock was acquired at an average cost of $56.07 per share, for a total transaction of $280,350.00. Following the completion of the purchase, the director now directly owns 29,737 shares of the company's stock, valued at $1,667,353.59. The disclosure for this purchase can be found here. Insiders own 15.40% of the company's stock.

Hedge Funds Weigh In On Apollo Global Management

A number of hedge funds have recently added to or reduced their stakes in the company. Capital Wealth Alliance LLC purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $606,000. Federated Hermes Inc. raised its holdings in Apollo Global Management by 71.5% in the 2nd quarter. Federated Hermes Inc. now owns 1,232,000 shares of the financial services provider's stock worth $59,727,000 after acquiring an additional 513,600 shares during the last quarter. Private Trust Co. NA purchased a new position in Apollo Global Management in the 2nd quarter worth approximately $54,000. Sunflower Bank N.A. raised its holdings in Apollo Global Management by 14.9% in the 2nd quarter. Sunflower Bank N.A. now owns 6,133 shares of the financial services provider's stock worth $297,000 after acquiring an additional 796 shares during the last quarter. Finally, Amundi raised its holdings in Apollo Global Management by 33.8% in the 2nd quarter. Amundi now owns 248,403 shares of the financial services provider's stock worth $12,089,000 after acquiring an additional 62,735 shares during the last quarter. 69.40% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 2.4 %

Shares of APO stock traded down $1.13 during trading hours on Friday, hitting $46.50. 3,011,398 shares of the company's stock traded hands, compared to its average volume of 2,674,534. The stock's fifty day simple moving average is $55.96 and its two-hundred day simple moving average is $55.32. Apollo Global Management has a 12-month low of $45.97 and a 12-month high of $81.07. The stock has a market cap of $26.55 billion, a price-to-earnings ratio of -14.95, a PEG ratio of 0.58 and a beta of 1.64. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.04.

Apollo Global Management (NYSE:APO – Get Rating) last released its earnings results on Thursday, August 4th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. Apollo Global Management had a negative net margin of 44.62% and a positive return on equity of 42.48%. During the same quarter last year, the business earned $1.14 earnings per share. On average, analysts expect that Apollo Global Management will post 5.17 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Thursday, August 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $1.60 dividend on an annualized basis and a yield of 3.44%. Apollo Global Management's payout ratio is currently -51.45%.

About Apollo Global Management

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Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.