Gladstone Capital Management LLP Has $83.47 Million Stock Holdings in APi Group Corporation $APG

Gladstone Capital Management LLP increased its stake in APi Group Corporation (NYSE:APG) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,181,558 shares of the company’s stock after purchasing an additional 223,892 shares during the quarter. APi Group comprises about 8.7% of Gladstone Capital Management LLP’s holdings, making the stock its 4th largest position. Gladstone Capital Management LLP’s holdings in APi Group were worth $83,466,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in APi Group in the 1st quarter worth about $650,000. Goldman Sachs Group Inc. grew its holdings in APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after buying an additional 75,490 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of APi Group by 547.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after buying an additional 1,078 shares during the period. First Trust Advisors LP increased its position in shares of APi Group by 166.5% during the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after buying an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC increased its position in shares of APi Group by 5.7% during the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock valued at $577,000 after buying an additional 612 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APG has been the subject of a number of analyst reports. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Robert W. Baird set a $52.00 target price on shares of APi Group in a research note on Friday, May 1st. Royal Bank Of Canada raised their price target on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Finally, Citigroup reaffirmed a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus target price of $52.14.

APi Group Stock Performance

Shares of APG opened at $42.48 on Wednesday. APi Group Corporation has a 12-month low of $31.95 and a 12-month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a market cap of $18.40 billion, a PE ratio of -59.83, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. The stock has a 50-day moving average price of $43.99 and a 200-day moving average price of $42.35.

APi Group (NYSE:APG) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm posted $0.37 earnings per share. APi Group’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ian G. H. Ashken sold 65,534 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the transaction, the director directly owned 9,477,284 shares of the company’s stock, valued at approximately $431,121,649.16. This trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 59,461 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total value of $2,705,475.50. Following the completion of the sale, the director owned 9,237,350 shares of the company’s stock, valued at $420,299,425. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,444,000 shares of company stock worth $271,537,645. 18.70% of the stock is currently owned by corporate insiders.

About APi Group

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.