Lombard Odier Asset Management USA Corp Makes New Investment in APi Group Corporation $APG

Lombard Odier Asset Management USA Corp bought a new position in APi Group Corporation (NYSE:APG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 58,045 shares of the company’s stock, valued at approximately $2,963,000.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in APi Group by 83.2% in the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after buying an additional 3,247,126 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of APi Group by 71.9% in the second quarter. Daiwa Securities Group Inc. now owns 20,927 shares of the company’s stock worth $1,068,000 after acquiring an additional 8,751 shares during the period. Certuity LLC purchased a new position in shares of APi Group in the second quarter valued at $243,000. Hood River Capital Management LLC raised its stake in shares of APi Group by 80.4% during the 2nd quarter. Hood River Capital Management LLC now owns 1,543,815 shares of the company’s stock valued at $78,812,000 after purchasing an additional 688,044 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in APi Group during the 2nd quarter worth about $1,216,000. 86.62% of the stock is owned by institutional investors.

Insider Activity at APi Group

In related news, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the transaction, the director owned 18,968,790 shares in the company, valued at $684,583,631.10. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 900,000 shares of company stock worth $32,342,000. 17.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

APG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of APi Group in a report on Monday, December 1st. Citigroup reiterated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of APi Group in a research note on Monday. Barclays boosted their price target on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Zacks Research downgraded APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

APi Group Price Performance

Shares of APi Group stock opened at $38.88 on Tuesday. The firm has a market capitalization of $16.17 billion, a PE ratio of 106.02 and a beta of 1.72. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $39.65. The business’s 50-day moving average price is $36.29 and its 200-day moving average price is $34.90.

APi Group (NYSE:APG) last issued its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.APi Group’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts forecast that APi Group Corporation will post 1.83 EPS for the current fiscal year.

APi Group 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.