Wall Street Zen Downgrades Apollo Global Management (NYSE:APO) to Strong Sell

Apollo Global Management (NYSE:APO) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently issued reports on the stock. Barclays increased their price objective on shares of Apollo Global Management from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Morgan Stanley cut their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Royal Bank Of Canada decreased their price target on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. Finally, Piper Sandler cut their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $149.08.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $122.53 on Friday. The stock has a market cap of $70.64 billion, a P/E ratio of 78.04, a P/E/G ratio of 1.07 and a beta of 1.50. The firm’s 50-day simple moving average is $126.18 and its 200 day simple moving average is $123.96. Apollo Global Management has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. Apollo Global Management’s revenue was down 8.8% compared to the same quarter last year. Equities analysts expect that Apollo Global Management will post 8.19 EPS for the current year.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

Hedge funds have recently modified their holdings of the stock. Schnieders Capital Management LLC. purchased a new stake in shares of Apollo Global Management during the second quarter valued at $7,954,000. Baird Financial Group Inc. raised its holdings in Apollo Global Management by 117.5% during the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after buying an additional 8,709 shares during the period. Gamco Investors INC. ET AL raised its holdings in Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock worth $949,000 after buying an additional 305 shares during the period. Nebula Research & Development LLC purchased a new stake in Apollo Global Management during the second quarter valued at about $722,000. Finally, Northern Right Capital Management L.P. lifted its stake in Apollo Global Management by 1.5% during the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock valued at $24,542,000 after buying an additional 2,500 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.