Gambit Capital Management LLC Takes $932,000 Position in APi Group Corporation $APG

Key Points

• Gambit Capital Management opened a new position in APi Group, buying 24,353 shares valued at about $932,000 in the fourth quarter.
• Several insiders sold shares recently, including directors James E. Lillie and Ian G. H. Ashken; over the last three months, insiders sold 5.13 million shares worth about $217.1 million.
• APi Group reported strong quarterly results, with EPS of $0.32 beating estimates and revenue of $1.98 billion topping forecasts, while analysts remain largely positive with a Moderate Buy consensus and average target of $52.14.

Gambit Capital Management LLC acquired a new position in shares of APi Group Corporation (NYSE:APG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,353 shares of the company's stock, valued at approximately $932,000.

A number of other institutional investors have also recently bought and sold shares of APG. Arizona State Retirement System lifted its stake in shares of APi Group by 0.3% in the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company's stock valued at $3,772,000 after purchasing an additional 277 shares during the last quarter. Silicon Valley Capital Partners lifted its position in shares of APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock worth $29,000 after buying an additional 286 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after buying an additional 297 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of APi Group by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company's stock worth $3,169,000 after acquiring an additional 314 shares in the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of APi Group by 4.7% during the 4th quarter. Wedmont Private Capital now owns 7,655 shares of the company's stock valued at $314,000 after acquiring an additional 343 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 225,539 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total value of $10,119,934.93. Following the sale, the director owned 9,296,811 shares of the company's stock, valued at approximately $417,147,909.57. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of APi Group stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director directly owned 9,542,818 shares of the company's stock, valued at $426,850,249.14. This represents a 9.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,126,000 shares of company stock worth $217,071,030 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

APi Group Price Performance

Shares of NYSE:APG opened at $42.26 on Tuesday. The firm has a market capitalization of $18.31 billion, a PE ratio of -59.52, a PEG ratio of 2.54 and a beta of 1.67. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. APi Group Corporation has a 1-year low of $30.00 and a 1-year high of $49.99. The business's 50 day moving average is $43.69 and its 200-day moving average is $41.62.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. Sell-side analysts predict that APi Group Corporation will post 1.7 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on APG. UBS Group increased their price target on APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a report on Friday, May 1st. Robert W. Baird set a $52.00 price target on shares of APi Group in a report on Friday, May 1st. Barclays restated an "overweight" rating and set a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price target on APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.14.

APi Group 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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