Avantax Advisory Services Inc. Purchases 2,397 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• Avantax Advisory Services Inc. increased its stake in Apollo Global Management by 23.8%, acquiring an additional 2,397 shares, bringing its total holdings to 12,462 shares valued at approximately $1.7 million.
• Apollo Global Management reported earnings per share (EPS) of $1.82 for the latest quarter, missing analysts' estimates, with a revenue drop of 21.2% compared to the same period last year.
• Analysts have varied ratings on Apollo Global Management, with a consensus rating of "Moderate Buy" and a price target around $161.00, reflecting differing outlooks on the company's future performance.

Avantax Advisory Services Inc. lifted its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,462 shares of the financial services provider's stock after acquiring an additional 2,397 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Apollo Global Management were worth $1,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management during the fourth quarter worth $25,000. GW&K Investment Management LLC increased its holdings in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC increased its holdings in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in Apollo Global Management in the first quarter valued at about $39,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Apollo Global Management by 36.0% in the first quarter. Cullen Frost Bankers Inc. now owns 408 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.20% of the company's stock.

Apollo Global Management Stock Down 0.1%

Shares of Apollo Global Management stock opened at $145.37 on Friday. The business's 50 day simple moving average is $140.48 and its 200 day simple moving average is $142.54. Apollo Global Management Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The firm has a market cap of $83.08 billion, a PE ratio of 25.46, a P/E/G ratio of 1.64 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same period in the prior year, the business posted $1.72 EPS. The firm's quarterly revenue was down 21.2% compared to the same quarter last year. On average, analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APO. TD Cowen dropped their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Piper Sandler dropped their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Morgan Stanley dropped their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Evercore ISI upped their price objective on Apollo Global Management from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Barclays upped their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.00.

Apollo Global Management Profile

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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