APi Group (NYSE:APG) Director Ian Ashken Sells 1,018,466 Shares of Stock

Key Points

• APi Director Ian Ashken sold 1,018,466 shares at an average price of $44.73 for about $45.56 million, reducing his stake by 9.64% to 9,542,818 shares in a transaction executed under a pre-arranged Rule 10b5-1 plan.
• APi Group beat Q1 expectations with EPS of $0.32 versus the $0.30 consensus and reported revenue of $1.98 billion, up 15.3% year-over-year, with a net margin of 3.85% and ROE of 37.63%.
• The stock was trading at $46.42 (+1.8%) with a $20.11 billion market cap, and analysts hold a consensus "Moderate Buy" rating with an average target of $51.86 (1 Strong Buy, 7 Buy, 2 Hold).

APi Group Corporation (NYSE:APG - Get Free Report) Director Ian Ashken sold 1,018,466 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares in the company, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Stock Up 1.8%

APG stock traded up $0.83 during trading on Wednesday, hitting $46.42. 3,071,772 shares of the company's stock were exchanged, compared to its average volume of 2,898,728. The business has a 50-day moving average price of $43.71 and a two-hundred day moving average price of $41.02. 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 stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of -65.38, a PEG ratio of 2.64 and a beta of 1.67. APi Group Corporation has a 52-week low of $28.36 and a 52-week high of $49.99.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping 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 company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the company earned $0.37 earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that APi Group Corporation will post 1.69 EPS for the current year.

Hedge Funds Weigh In On APi Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in APi Group during the 1st quarter valued at approximately $650,000. Goldman Sachs Group Inc. increased its holdings in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company's stock valued at $6,369,000 after purchasing an additional 75,490 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 worth $65,000 after purchasing an additional 1,078 shares during the last quarter. First Trust Advisors LP lifted its holdings 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 worth $8,861,000 after purchasing an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC lifted its holdings 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 worth $577,000 after purchasing an additional 612 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on APG. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada boosted their target price on APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, February 26th. Citigroup reissued a "buy" rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Barclays lifted their price target on APi Group from $44.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Finally, Robert W. Baird set a $52.00 price objective on APi Group in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, APi Group presently has an average rating of "Moderate Buy" and a consensus target price of $51.86.

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.

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