APi Group Corporation (NYSE:APG) Short Interest Update

APi Group Corporation (NYSE:APG) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 6,756,349 shares, a drop of 14.5% from the February 12th total of 7,898,864 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily volume of 3,141,921 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily volume of 3,141,921 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.9% of the shares of the stock are short sold.

APi Group Stock Down 2.2%

APG opened at $39.89 on Monday. The firm has a market cap of $17.21 billion, a P/E ratio of -52.72, a PEG ratio of 2.38 and a beta of 1.69. The business’s fifty day simple moving average is $42.86 and its 200 day simple moving average is $38.76. APi Group has a 52 week low of $20.50 and a 52 week high of $46.89. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

APi Group (NYSE:APG) last released its earnings results 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 net margin of 3.70% and a return on equity of 37.92%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that APi Group will post 1.83 EPS for the current fiscal year.

Insider Activity

In related news, SVP Louis Lambert sold 22,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $44.71, for a total value of $983,620.00. Following the completion of the sale, the senior vice president owned 16,148 shares in the company, valued at $721,977.08. This trade represents a 57.67% 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 100,888 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $44.30, for a total transaction of $4,469,338.40. Following the transaction, the director owned 9,706,462 shares in the company, valued at $429,996,266.60. The trade was a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 682,000 shares of company stock worth $29,693,385 in the last 90 days. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of APi Group

A number of hedge funds have recently bought and sold shares of APG. Sound Income Strategies LLC purchased a new position in shares of APi Group during the 4th quarter worth $27,000. Clearstead Advisors LLC increased its stake in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the last quarter. Silicon Valley Capital Partners lifted its position in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after buying an additional 286 shares during the period. Parallel Advisors LLC boosted its stake in APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of research analyst reports. CJS Securities raised APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Truist Financial boosted their price objective on shares of APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Citigroup lifted their target price on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Barclays upped their price target on shares of APi Group from $44.00 to $52.00 and gave the company an “overweight” 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 stock. Based on data from MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

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.