Wellington Shields Capital Management LLC Purchases New Position in Apollo Global Management LLC (NYSE:APO)

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Wellington Shields Capital Management LLC purchased a new stake in shares of Apollo Global Management LLC (NYSE:APO) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,950 shares of the financial services provider’s stock, valued at approximately $755,000.

Other hedge funds have also made changes to their positions in the company. Arlington Partners LLC purchased a new stake in shares of Apollo Global Management during the 2nd quarter valued at approximately $34,000. Heritage Wealth Advisors lifted its stake in shares of Apollo Global Management by 100.0% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the financial services provider’s stock valued at $37,000 after buying an additional 500 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Apollo Global Management during the 2nd quarter valued at approximately $54,000. Boston Partners purchased a new stake in Apollo Global Management in the 2nd quarter worth approximately $125,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Apollo Global Management in the 3rd quarter worth approximately $163,000. Institutional investors own 72.97% of the company’s stock.

APO has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays reiterated a “buy” rating and issued a $44.00 target price on shares of Apollo Global Management in a research note on Sunday, October 13th. ValuEngine cut shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Oppenheimer set a $47.00 target price on shares of Apollo Global Management and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Monday, October 7th. They issued an “outperform” rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.25.

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.96, for a total value of $159,840.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 46.90% of the stock is owned by corporate insiders.

Shares of NYSE:APO traded up $0.47 during trading on Tuesday, reaching $42.90. The company had a trading volume of 1,763,287 shares, compared to its average volume of 1,572,988. The company has a fifty day moving average of $40.15 and a two-hundred day moving average of $35.86. The stock has a market capitalization of $8.49 billion, a P/E ratio of -204.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.51. Apollo Global Management LLC has a 12 month low of $22.63 and a 12 month high of $44.18. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.12.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). The firm had revenue of $401.38 million for the quarter, compared to analysts’ expectations of $404.24 million. During the same quarter last year, the firm earned $0.83 earnings per share. As a group, equities research analysts predict that Apollo Global Management LLC will post 2.34 earnings per share for the current year.

About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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