Short Interest in Apollo Global Management, Inc. (NYSE:APO) Rises By 10.7%

Apollo Global Management, Inc. (NYSE:APO) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 20,450,000 shares, an increase of 10.7% from the June 15th total of 18,470,000 shares. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is presently 8.5 days.

Apollo Global Management Stock Down 2.2 %

APO stock traded down $2.74 on Wednesday, reaching $121.26. 2,135,518 shares of the company traded hands, compared to its average volume of 2,387,065. Apollo Global Management has a one year low of $77.11 and a one year high of $124.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $68.90 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.59. The firm has a fifty day simple moving average of $116.55 and a 200-day simple moving average of $110.43.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $827.33 million. Research analysts anticipate that Apollo Global Management will post 7.11 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Analysts Set New Price Targets

Several research firms have weighed in on APO. JPMorgan Chase & Co. increased their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Barclays dropped their price objective on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. BMO Capital Markets increased their price objective on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Finally, UBS Group raised their target price on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $119.29.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors and hedge funds have recently modified their holdings of APO. EP Wealth Advisors LLC bought a new stake in shares of Apollo Global Management in the 3rd quarter worth $228,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Apollo Global Management by 11.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,579 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 1,159 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Apollo Global Management by 146.6% in the 4th quarter. First Hawaiian Bank now owns 5,874 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 3,492 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Apollo Global Management by 20.5% in the fourth quarter. Wedmont Private Capital now owns 4,206 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 716 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Apollo Global Management by 129.8% in the fourth quarter. Nordea Investment Management AB now owns 658,008 shares of the financial services provider’s stock worth $61,497,000 after acquiring an additional 371,721 shares during the period. Institutional investors own 77.06% of the company’s stock.

About Apollo Global Management

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.