Gates Capital Management Inc. Sells 944,043 Shares of APi Group Corporation $APG

Key Points

• Gates Capital Management Inc. reduced its stake in APi Group Corporation by 18.8% to approximately 4 million shares, making it the 8th largest holding for the fund.
• Several large investors increased their positions in APi Group, with Durable Capital Partners LP growing its holdings by 199.8% and T. Rowe Price Investment Management raising by 75.3% in the first quarter.
• APi Group reported a 15.0% increase in quarterly revenue year-over-year, achieving $1.99 billion, and exceeded earnings expectations with $0.39 per share against an estimate of $0.37.

Gates Capital Management Inc. cut its holdings in APi Group Corporation (NYSE:APG - Free Report) by 18.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,069,841 shares of the company's stock after selling 944,043 shares during the quarter. APi Group comprises 2.9% of Gates Capital Management Inc.'s holdings, making the stock its 8th biggest position. Gates Capital Management Inc. owned approximately 1.47% of APi Group worth $145,538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC acquired a new position in shares of APi Group in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC lifted its stake in APi Group by 105.5% in the 1st quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock valued at $55,000 after acquiring an additional 785 shares in the last quarter. Versant Capital Management Inc lifted its stake in APi Group by 339.0% in the 1st quarter. Versant Capital Management Inc now owns 1,633 shares of the company's stock valued at $58,000 after acquiring an additional 1,261 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in APi Group by 40.5% in the 1st quarter. First Horizon Advisors Inc. now owns 1,672 shares of the company's stock valued at $60,000 after acquiring an additional 482 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in APi Group by 6.7% in the 1st quarter. Signaturefd LLC now owns 4,067 shares of the company's stock valued at $145,000 after acquiring an additional 256 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at APi Group

In related news, CAO James Arseniadis sold 4,843 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.38, for a total value of $171,345.34. Following the sale, the chief accounting officer owned 12,116 shares in the company, valued at approximately $428,664.08. This represents a 28.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Lillie sold 95,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $35.23, for a total value of $3,346,850.00. Following the completion of the sale, the director owned 7,348,101 shares in the company, valued at approximately $258,873,598.23. This trade represents a 1.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 589,843 shares of company stock worth $20,694,672. Company insiders own 17.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APG shares. Robert W. Baird boosted their target price on APi Group from $31.33 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Truist Financial boosted their target price on APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upgraded APi Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $31.00 to $42.00 in a research note on Tuesday, July 15th. Finally, Barclays reiterated an "overweight" rating and set a $42.00 price objective (up previously from $40.00) on shares of APi Group in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $36.10.

APi Group Stock Down 0.6%

Shares of APi Group stock traded down $0.21 on Wednesday, reaching $34.62. 2,318,924 shares of the company were exchanged, compared to its average volume of 2,338,609. APi Group Corporation has a one year low of $20.50 and a one year high of $36.55. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 27.10 and a beta of 1.61. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $34.87 and a 200 day moving average of $29.82.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. APi Group had a return on equity of 21.33% and a net margin of 3.35%.The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business's revenue was up 15.0% compared to the same quarter last year. APi Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.