APi Group (NYSE:APG) Director Sells $3,433,505.92 in Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 85,072 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the completion of the sale, the director owned 9,177,284 shares of the company’s stock, valued at approximately $370,395,182.24. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Stock Performance

NYSE APG opened at $41.76 on Friday. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of -62.32, a PEG ratio of 2.40 and a beta of 1.60. The business’s 50 day moving average is $41.28 and its two-hundred day moving average is $42.66. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. Research analysts expect that APi Group Corporation will post 1.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC acquired a new stake in APi Group during the 4th quarter valued at $27,000. Silicon Valley Capital Partners boosted its stake in shares of APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 286 shares during the last quarter. Parallel Advisors LLC increased its position in APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 valued at $29,000 after purchasing an additional 722 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after purchasing an additional 736 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APG has been the subject of a number of research analyst reports. Barclays reiterated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Citigroup restated a “buy” rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group set a $52.00 price target on APi Group in a report on Monday, July 20th. Finally, Wall Street Zen downgraded APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

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.