Gladstone Capital Management LLP Purchases Shares of 1,957,666 APi Group Corporation $APG

Gladstone Capital Management LLP purchased a new stake in shares of APi Group Corporation (NYSE:APG) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,957,666 shares of the company’s stock, valued at approximately $67,285,000. APi Group comprises about 7.4% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 6th largest holding.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Whittier Trust Co. raised its position in APi Group by 49.9% during the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock worth $39,000 after purchasing an additional 372 shares during the last quarter. Nisa Investment Advisors LLC raised its position in APi Group by 50.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock worth $44,000 after purchasing an additional 425 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in APi Group by 105.7% during the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares during the period. Finally, MAI Capital Management lifted its holdings in APi Group by 78.6% during the 3rd quarter. MAI Capital Management now owns 1,166 shares of the company’s stock worth $40,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Truist Financial lifted their price objective on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Royal Bank Of Canada raised their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.57.

Insiders Place Their Bets

In other APi Group news, SVP Louis Lambert sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total value of $983,620.00. Following the transaction, the senior vice president directly owned 16,148 shares of the company’s stock, valued at approximately $721,977.08. The trade was a 57.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 83,629 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,591,029.26. Following the transaction, the director owned 9,522,350 shares in the company, valued at $408,889,709. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 682,000 shares of company stock worth $29,693,385. 17.00% of the stock is owned by corporate insiders.

APi Group Stock Performance

Shares of APi Group stock opened at $39.89 on Friday. The business has a 50-day moving average price of $42.86 and a two-hundred day moving average price of $38.72. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $46.89. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. The company has a market cap of $17.21 billion, a P/E ratio of -52.72, a PEG ratio of 2.43 and a beta of 1.69.

APi Group (NYSE:APG) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.