APi Group Corporation $APG Shares Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP increased its APi Group stake by 51.4% in the first quarter, buying 28,578 additional shares and bringing its holdings to 84,141 shares worth about $3.41 million.
• Institutional interest in APi Group remains strong, with several other firms also adding to or starting positions; overall, 86.62% of the stock is owned by institutions and hedge funds.
• APi Group beat quarterly expectations, reporting $0.32 EPS versus $0.30 expected and revenue of $1.98 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $53.17.

Caxton Associates LLP raised its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 51.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,141 shares of the company's stock after buying an additional 28,578 shares during the period. Caxton Associates LLP's holdings in APi Group were worth $3,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new position in APi Group during the 1st quarter worth about $650,000. Goldman Sachs Group Inc. lifted its position in shares of APi Group by 73.6% during the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company's stock worth $6,369,000 after purchasing an additional 75,490 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company's stock valued at $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP boosted its stake in shares of APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company's stock valued at $8,861,000 after purchasing an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC grew its holdings in shares of APi Group by 5.7% in the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company's stock valued at $577,000 after purchasing an additional 612 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 1,018,466 shares of APi Group stock in a transaction on 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 transaction, the director directly owned 9,542,818 shares in the company, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is currently owned by insiders.

APi Group Stock Up 1.6%

Shares of NYSE:APG opened at $39.59 on Friday. The firm has a 50 day simple moving average of $41.63 and a 200-day simple moving average of $42.78. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. 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 company has a market capitalization of $17.15 billion, a PE ratio of -55.75, a P/E/G ratio of 2.28 and a beta of 1.60.

APi Group (NYSE:APG - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating 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 firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm posted $0.37 EPS. The company's revenue was up 15.3% on a year-over-year basis. On average, equities analysts predict that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on APG shares. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. 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. Robert W. Baird set a $52.00 target price on APi Group in a report on Friday, May 1st. Finally, Truist Financial set a $55.00 price target on APi Group and gave the stock a "buy" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, APi Group presently has an average rating of "Moderate Buy" and a consensus target price of $53.17.

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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