GAMMA Investing LLC Buys 14,890 Shares of Apollo Global Management Inc. $APO

Key Points

• GAMMA Investing LLC increased its Apollo Global Management stake by 260.7% in the third quarter, purchasing 14,890 additional shares and bringing its holdings to 20,602 shares valued at approximately $2.39 million.
• Institutional investors own 77.06% of Apollo’s stock, while several other funds also significantly increased their positions during the quarter.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, and revenue of $5.57 billion versus expectations of $5.65 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $150.36.

GAMMA Investing LLC grew its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 260.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,602 shares of the financial services provider's stock after acquiring an additional 14,890 shares during the quarter. GAMMA Investing LLC's holdings in Apollo Global Management were worth $2,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Invariant Investment Management raised its holdings in Apollo Global Management by 2.7% in the third quarter. Invariant Investment Management now owns 6,132 shares of the financial services provider's stock worth $699,000 after purchasing an additional 160 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Apollo Global Management by 1,490.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 98,620 shares of the financial services provider's stock valued at $11,446,000 after buying an additional 92,418 shares during the period. CoreCap Advisors LLC increased its position in shares of Apollo Global Management by 662.9% in the 3rd quarter. CoreCap Advisors LLC now owns 15,373 shares of the financial services provider's stock valued at $1,784,000 after buying an additional 13,358 shares in the last quarter. Apella Capital LLC increased its position in shares of Apollo Global Management by 127.7% in the 3rd quarter. Apella Capital LLC now owns 4,749 shares of the financial services provider's stock valued at $551,000 after buying an additional 2,663 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its stake in Apollo Global Management by 1,296.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 27,253 shares of the financial services provider's stock worth $3,163,000 after buying an additional 25,301 shares during the period. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 3.0%

NYSE APO opened at $118.71 on Friday. The stock has a market capitalization of $70.10 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 1.02 and a beta of 1.58. The stock's 50 day moving average price is $128.27 and its two-hundred day moving average price is $124.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. As a group, analysts anticipate that Apollo Global Management Inc. will post 8.03 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is currently 82.42%.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a report on Tuesday, July 21st. BMO Capital Markets dropped their price target on Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating on the stock in a research report on Monday, July 13th. Royal Bank Of Canada lifted their price objective on Apollo Global Management from $137.00 to $146.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. TD Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.36.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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