Short Interest in APi Group Co. (NYSE:APG) Grows By 48.0%

APi Group Co. (NYSE:APG) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 5,120,000 shares, an increase of 48.0% from the October 15th total of 3,460,000 shares. Based on an average daily volume of 1,510,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately 3.4% of the shares of the stock are short sold.

Analyst Ratings Changes

APG has been the subject of a number of research reports. Barclays increased their target price on shares of APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of APi Group in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird dropped their price target on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

APi Group Trading Down 2.3 %

APG traded down $0.84 during trading on Friday, reaching $35.37. 1,460,103 shares of the company’s stock were exchanged, compared to its average volume of 1,724,933. The firm has a fifty day moving average price of $34.11 and a two-hundred day moving average price of $35.59. The stock has a market capitalization of $9.72 billion, a PE ratio of -17.95 and a beta of 1.54. APi Group has a one year low of $28.97 and a one year high of $39.98. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. APi Group’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. As a group, equities research analysts forecast that APi Group will post 1.86 earnings per share for the current fiscal year.

Insider Activity at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the transaction, the director now directly owns 5,478,779 shares in the company, valued at $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Lillie sold 11,568 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the sale, the director now directly owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,461 shares of company stock valued at $8,907,049 over the last quarter. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On APi Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of APi Group by 5.0% during the first quarter. Vanguard Group Inc. now owns 21,822,007 shares of the company’s stock worth $856,950,000 after buying an additional 1,031,564 shares during the period. Janus Henderson Group PLC boosted its position in APi Group by 19.2% during the third quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock valued at $277,079,000 after acquiring an additional 1,351,013 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in APi Group by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock worth $227,881,000 after acquiring an additional 324,544 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of APi Group by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,443,315 shares of the company’s stock worth $253,030,000 after acquiring an additional 1,826,227 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of APi Group by 271.2% in the 1st quarter. Capital Research Global Investors now owns 4,321,383 shares of the company’s stock valued at $169,701,000 after purchasing an additional 3,157,283 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.