Kerrisdale Advisers LLC Invests $1.39 Million in APi Group Corporation $APG

Key Points

• Kerrisdale Advisers bought a new 32,770-share stake in APi Group worth approximately $1.39 million during the second quarter. Institutional investors and hedge funds collectively own 86.62% of the company.
• Analysts maintain a positive outlook, with APi Group receiving a “Moderate Buy” consensus rating and an average price target of $52.57, above its reported $39.70 share price.
• APi Group exceeded quarterly expectations, reporting $0.44 in EPS and $2.25 billion in revenue, up 13.3% year over year. However, insiders sold approximately 2.67 million shares worth $110.8 million during the latest quarter.

Kerrisdale Advisers LLC purchased a new stake in APi Group Corporation (NYSE:APG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,770 shares of the company's stock, valued at approximately $1,388,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APG. Root Financial Partners LLC raised its position in APi Group by 20.3% in the first quarter. Root Financial Partners LLC now owns 1,256 shares of the company's stock worth $51,000 after acquiring an additional 212 shares in the last quarter. Arista Wealth Management LLC grew its stake in shares of APi Group by 1.4% during the 2nd quarter. Arista Wealth Management LLC now owns 19,125 shares of the company's stock worth $810,000 after purchasing an additional 270 shares during the period. Triad Wealth Partners LLC increased its holdings in shares of APi Group by 2.8% in the 1st quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company's stock valued at $415,000 after purchasing an additional 283 shares in the last quarter. Silicon Valley Capital Partners increased its holdings in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock valued at $29,000 after purchasing an additional 286 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock valued at $29,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 86.62% of the company's stock.

Analyst Ratings Changes

APG has been the topic of several recent analyst reports. Citigroup restated a "buy" rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Robert W. Baird set a $47.00 price target on APi Group in a research note on Friday, July 31st. Barclays restated an "overweight" rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Wells Fargo & Company began coverage on APi Group in a research note on Tuesday, August 4th. They issued an "overweight" rating and a $53.00 price objective for the company. Finally, UBS Group set a $52.00 price objective on APi Group in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.57.

APi Group Stock Up 0.0%

Shares of NYSE APG opened at $39.70 on Monday. The firm has a market cap of $17.16 billion, a P/E ratio of -59.25, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. APi Group Corporation has a 1 year low of $33.40 and a 1 year high of $49.99. The firm's 50 day moving average price is $41.28 and its 200 day moving average price is $42.62.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that APi Group Corporation will post 1.72 earnings per share for the current year.

Insider Activity at APi Group

In other news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the transaction, the director directly owned 19,240,426 shares in the company, valued at $809,637,126.08. This represents a 9.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony E. Malkin sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,667,000 shares of company stock worth $110,810,972. 18.70% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source