Cynosure Group LLC Acquires Shares of 8,012 APi Group Co. (NYSE:APG)

Cynosure Group LLC acquired a new stake in shares of APi Group Co. (NYSE:APG) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,012 shares of the company’s stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Edgestream Partners L.P. acquired a new stake in APi Group during the 1st quarter valued at approximately $2,944,000. Vanguard Group Inc. lifted its stake in APi Group by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 21,822,007 shares of the company’s stock valued at $856,950,000 after acquiring an additional 1,031,564 shares during the period. J.Safra Asset Management Corp lifted its stake in APi Group by 81.3% during the 1st quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock valued at $68,000 after acquiring an additional 776 shares during the period. Motco acquired a new stake in APi Group during the 1st quarter valued at approximately $83,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in APi Group during the 1st quarter valued at approximately $1,422,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the transaction, the director now owns 5,828,779 shares of the company’s stock, valued at approximately $216,888,866.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the transaction, the director now directly owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

APi Group Price Performance

APG traded up $0.45 on Tuesday, hitting $38.24. 395,689 shares of the company’s stock were exchanged, compared to its average volume of 1,796,802. APi Group Co. has a fifty-two week low of $24.61 and a fifty-two week high of $39.98. The company has a current ratio of 1.35, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $37.16 and a 200-day moving average price of $36.49. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of -17.58, a P/E/G ratio of 1.07 and a beta of 1.57.

APi Group (NYSE:APG) last announced its earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts anticipate that APi Group Co. will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their target price on shares of APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. Finally, Robert W. Baird lifted their target price on shares of APi Group from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.29.

About APi Group

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.