Ancora Advisors LLC Invests $14.45 Million in APi Group Corporation $APG

Key Points

• Ancora Advisors acquired 341,163 APi Group shares worth approximately $14.45 million, representing about 0.08% of the company. Institutional investors collectively own 86.62% of APi Group.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $52.57, compared with the stock’s $40.50 opening price.
• APi Group exceeded quarterly expectations, reporting $0.44 in earnings per share and $2.25 billion in revenue, while revenue increased 13.3% year over year. However, insiders sold 2.667 million shares worth $110.8 million over the past three months.

Ancora Advisors LLC purchased a new position in shares of APi Group Corporation (NYSE:APG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 341,163 shares of the company's stock, valued at approximately $14,448,000. Ancora Advisors LLC owned about 0.08% of APi Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of APG. Silicon Valley Capital Partners lifted its stake in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock worth $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC lifted its holdings in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock valued at $29,000 after purchasing an additional 297 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in APi Group by 1,851.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company's stock worth $29,000 after acquiring an additional 722 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company's stock worth $31,000 after purchasing an additional 736 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of APi Group by 146.7% during the 4th quarter. IFP Advisors Inc now owns 824 shares of the company's stock valued at $32,000 after acquiring an additional 490 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APG. Citigroup restated a "buy" rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a report on Friday, July 31st. Wall Street Zen lowered APi Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Wells Fargo & Company assumed coverage on shares of APi Group in a research report on Tuesday, August 4th. They set an "overweight" rating and a $53.00 target price on the stock. Barclays reiterated an "overweight" rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.57.

APi Group Stock Down 0.5%

NYSE APG opened at $40.50 on Wednesday. The company has a market cap of $17.50 billion, a price-to-earnings ratio of -60.45, a PEG ratio of 2.37 and a beta of 1.60. 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 Corporation has a 1-year low of $33.40 and a 1-year high of $49.99. The company has a 50 day moving average of $41.38 and a 200-day moving average of $42.69.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Insider Activity

In other APi Group news, Director Ian G. H. Ashken sold 85,072 shares of APi Group stock in a transaction that occurred on 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 directly owned 9,177,284 shares in the company, valued at $370,395,182.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. The trade was a 9.42% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,667,000 shares of company stock valued at $110,810,972. Corporate insiders own 18.70% of the company's stock.

APi Group Profile

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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