Harvest Fund Management Co. Ltd Reduces Stock Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Harvest Fund Management Co. Ltd significantly cut its stake in Apollo Global Management by 90%, now holding just 824 shares valued at about $113,000.
• Other institutional investors, such as Ellevest Inc. and Vivaldi Capital Management LP, have increased their holdings in Apollo Global Management, indicating a mixed sentiment among major stakeholders.
• Apollo Global Management reported earnings per share of $1.82 for the last quarter, falling short of expectations, while its revenue of $5.55 billion represents a year-over-year decline of 21.2%.

Harvest Fund Management Co. Ltd decreased its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 90.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 824 shares of the financial services provider's stock after selling 7,399 shares during the period. Harvest Fund Management Co. Ltd's holdings in Apollo Global Management were worth $113,000 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. Banque Cantonale Vaudoise acquired a new position in Apollo Global Management in the first quarter valued at $600,000. GSA Capital Partners LLP lifted its holdings in Apollo Global Management by 113.6% in the first quarter. GSA Capital Partners LLP now owns 4,231 shares of the financial services provider's stock valued at $579,000 after buying an additional 2,250 shares during the period. Meeder Asset Management Inc. lifted its holdings in Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares during the period. Meeder Advisory Services Inc. lifted its holdings in Apollo Global Management by 11.2% in the first quarter. Meeder Advisory Services Inc. now owns 8,697 shares of the financial services provider's stock valued at $1,191,000 after buying an additional 874 shares during the period. Finally, Ramirez Asset Management Inc. acquired a new position in Apollo Global Management in the first quarter valued at $55,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 $49,470,351.48. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on APO shares. Citigroup boosted their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. UBS Group dropped their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Wells Fargo & Company upped their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.00.

Apollo Global Management Stock Down 4.8%

APO stock traded down $7.02 during trading on Friday, reaching $138.30. The stock had a trading volume of 4,587,463 shares, compared to its average volume of 2,360,023. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The company's 50 day moving average is $140.63 and its two-hundred day moving average is $142.24. The company has a market capitalization of $79.04 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.56 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data 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 return on equity of 13.45% and a net margin of 14.59%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. During the same period in the previous year, the company posted $1.72 earnings per share. The company's revenue for the quarter was down 21.2% on a year-over-year basis. Equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Company 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.