APi Group Corporation $APG Shares Bought by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC increased its APi Group stake by 125.4% in the second quarter, purchasing 538,508 additional shares and ending with 967,869 shares worth approximately $41 million. Institutional investors collectively own 86.62% of the company.
• APi Group exceeded quarterly expectations, reporting $0.44 in EPS versus the $0.43 consensus estimate and $2.25 billion in revenue, up 13.3% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $52.57, compared with a recent price of $40.24. However, insiders sold roughly $110.8 million of shares over the past 90 days.

Squarepoint Ops LLC raised its stake in APi Group Corporation (NYSE:APG - Free Report) by 125.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 967,869 shares of the company's stock after purchasing an additional 538,508 shares during the quarter. Squarepoint Ops LLC owned 0.22% of APi Group worth $40,989,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. lifted its holdings in shares of APi Group by 0.5% during the second quarter. Baird Financial Group Inc. now owns 61,525 shares of the company's stock worth $2,606,000 after purchasing an additional 277 shares during the period. Nykredit A S acquired a new position in APi Group in the 2nd quarter valued at $556,000. Corient Private Wealth LP raised its position in APi Group by 118.7% during the 2nd quarter. Corient Private Wealth LP now owns 134,856 shares of the company's stock worth $5,711,000 after buying an additional 73,198 shares during the last quarter. Wellington Grp LLC raised its position in APi Group by 10.2% during the 2nd quarter. Wellington Grp LLC now owns 40,612 shares of the company's stock worth $1,720,000 after buying an additional 3,752 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of APi Group in the 2nd quarter worth $1,529,000. Institutional investors and hedge funds own 86.62% of the company's stock.

APi Group Stock Performance

NYSE APG opened at $40.24 on Wednesday. The business has a 50 day moving average price of $41.00 and a 200 day moving average price of $42.39. The company has a market capitalization of $17.39 billion, a P/E ratio of -60.06, a PEG ratio of 2.33 and a beta of 1.60. APi Group Corporation has a 1-year low of $33.40 and a 1-year high of $49.99. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32.

APi Group (NYSE:APG - Get Free Report) last posted its 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. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. APi Group's revenue was up 13.3% compared to the same quarter last year. Sell-side analysts expect that APi Group Corporation will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 285,000 shares of APi Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.84, for a total transaction of $11,354,400.00. Following the completion of the transaction, the director owned 8,952,350 shares in the company, valued at approximately $356,661,624. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 85,072 shares of APi Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the transaction, the director owned 9,177,284 shares of the company's stock, valued at approximately $370,395,182.24. The trade was a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,667,000 shares of company stock valued at $110,810,972 over the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird set a $47.00 price target on shares of APi Group in a research note on Friday, July 31st. Citigroup restated a "buy" rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Weiss Ratings lowered APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. UBS Group set a $52.00 target price on APi Group in a research report on Monday, July 20th. Finally, Wells Fargo & Company started coverage on APi Group in a research note on Tuesday, August 4th. They set an "overweight" rating and a $53.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, APi Group has an average rating of "Moderate Buy" and an average price target of $52.57.

APi Group Company 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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