Apollo Global Management (NYSE:APO) Cut to Sell at Wall Street Zen

Key Points

• Apollo Global Management was downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a shift in analyst sentiment.
• The stock traded down 1.1% to $125.81, with a recent market capitalization of $71.97 billion and a consensus price target of approximately $164.07.
• Insider trading activity includes significant sales by CFO Martin Kelly and insider Leon D. Black, indicating potential concerns or shifts in confidence within the company.

Apollo Global Management (NYSE:APO - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

A number of other analysts have also commented on APO. Weiss Ratings reiterated a "hold (c)" rating on shares of Apollo Global Management in a research note on Saturday, September 27th. Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Evercore ISI lifted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research note on Friday. They issued a "market perform" rating and a $132.00 price target for the company. Finally, Barclays lifted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.07.

Apollo Global Management Stock Down 1.1%

Apollo Global Management stock traded down $1.42 during trading hours on Friday, hitting $125.81. The stock had a trading volume of 3,431,274 shares, compared to its average volume of 3,494,358. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $71.97 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. Apollo Global Management has a 12-month low of $102.58 and a 12-month high of $189.49. The stock's 50-day moving average price is $138.35 and its 200-day moving average price is $137.03.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the previous year, the company earned $1.64 earnings per share. Equities research analysts anticipate that Apollo Global Management will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares of the company's stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This represents a 16.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apollo Global Management

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after buying an additional 7,441 shares in the last quarter. Clearview Wealth Advisors LLC lifted its holdings in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after buying an additional 17,418 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Apollo Global Management in the first quarter worth $871,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Apollo Global Management in the first quarter worth $492,000. Finally, True North Advisors LLC purchased a new position in shares of Apollo Global Management in the first quarter worth $2,097,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

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