Apollo Global Management, LLC (NYSE:APO) Cut to “Hold” at Zacks Investment Research

Apollo Global Management, LLC (NYSE:APO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, November 8th.

According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “

Several other research analysts also recently commented on APO. Oppenheimer Holdings, Inc. boosted their target price on Apollo Global Management from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.00 target price on shares of Apollo Global Management in a research note on Friday, July 14th. BidaskClub upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 3rd. Finally, Deutsche Bank AG boosted their price target on Apollo Global Management from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Apollo Global Management presently has a consensus rating of “Buy” and an average target price of $33.38.

Shares of Apollo Global Management (APO) traded up $0.05 during midday trading on Wednesday, reaching $30.35. The company’s stock had a trading volume of 845,173 shares, compared to its average volume of 1,243,684. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $5,864.26, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.23. Apollo Global Management has a 12-month low of $18.90 and a 12-month high of $33.37.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.51. The firm had revenue of $645.20 million during the quarter, compared to the consensus estimate of $467.72 million. Apollo Global Management had a return on equity of 64.11% and a net margin of 24.82%. The business’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. equities research analysts forecast that Apollo Global Management will post 2.98 EPS for the current year.

In related news, major shareholder Tiger Global Management Llc bought 253,672 shares of Apollo Global Management stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $28.48 per share, for a total transaction of $7,224,578.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.11% of the company’s stock.

Several institutional investors have recently bought and sold shares of APO. Ameriprise Financial Inc. bought a new position in shares of Apollo Global Management during the 1st quarter worth approximately $234,000. Renaissance Technologies LLC boosted its holdings in shares of Apollo Global Management by 4,255.2% during the 1st quarter. Renaissance Technologies LLC now owns 667,832 shares of the financial services provider’s stock worth $16,242,000 after buying an additional 652,498 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $54,333,000. NEXT Financial Group Inc boosted its holdings in shares of Apollo Global Management by 106.5% during the 2nd quarter. NEXT Financial Group Inc now owns 6,400 shares of the financial services provider’s stock worth $169,000 after buying an additional 3,300 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its holdings in shares of Apollo Global Management by 132.8% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 18,297 shares of the financial services provider’s stock worth $484,000 after buying an additional 10,437 shares in the last quarter. Hedge funds and other institutional investors own 71.94% of the company’s stock.

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About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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