Crescent Park Management L.P. Grows Stock Position in Apollo Global Management Inc. $APO

Key Points

• Crescent Park Management L.P. increased its investment in Apollo Global Management by 27.1%, acquiring 5,473 additional shares, bringing its total holdings to 25,705 shares valued at approximately $3.52 million.
• Analysts' ratings for Apollo Global Management vary, with one strong buy, sixteen buys, and two holds, while the consensus target price is set at $163.28.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, reflecting an annualized dividend yield of 1.5% with a payout ratio of 38.13%.

Crescent Park Management L.P. boosted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,705 shares of the financial services provider's stock after purchasing an additional 5,473 shares during the quarter. Apollo Global Management comprises approximately 1.6% of Crescent Park Management L.P.'s investment portfolio, making the stock its 17th largest holding. Crescent Park Management L.P.'s holdings in Apollo Global Management were worth $3,520,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. MML Investors Services LLC raised its stake in Apollo Global Management by 27.6% in the 4th quarter. MML Investors Services LLC now owns 18,668 shares of the financial services provider's stock valued at $3,083,000 after acquiring an additional 4,039 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Apollo Global Management by 28.4% in the fourth quarter. IHT Wealth Management LLC now owns 4,126 shares of the financial services provider's stock worth $681,000 after buying an additional 913 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $810,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $1,519,000. Finally, Integrated Wealth Concepts LLC grew its position in shares of Apollo Global Management by 33.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,369 shares of the financial services provider's stock valued at $556,000 after purchasing an additional 837 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on APO shares. Piper Sandler cut 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. UBS Group cut their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Citigroup upped their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Cowen reissued a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $163.28.

Apollo Global Management Stock Up 0.4%

APO traded up $0.58 during trading on Tuesday, reaching $134.47. The stock had a trading volume of 3,634,413 shares, compared to its average volume of 3,598,251. The stock's 50 day moving average is $142.91 and its two-hundred day moving average is $138.93. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $76.92 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.64 earnings per share. As a group, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's payout ratio is presently 38.13%.

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.