L & S Advisors Inc Trims Position in Apollo Global Management Inc. (NYSE:APO)

Key Points

• L & S Advisors Inc reduced its position in Apollo Global Management by 84.7%, selling 53,889 shares and leaving it with 9,712 shares valued at approximately $1.33 million.
• CFO Martin Kelly sold 4,000 shares of Apollo Global Management at a price of $132.57, resulting in a total sale amount of $530,280.
• Analysts generally maintain a positive outlook on Apollo Global Management, with the stock receiving numerous "buy" ratings and a consensus price target of $161.00.

L & S Advisors Inc trimmed its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 84.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,712 shares of the financial services provider's stock after selling 53,889 shares during the quarter. L & S Advisors Inc's holdings in Apollo Global Management were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in Apollo Global Management during the 4th quarter worth approximately $25,000. GW&K Investment Management LLC grew its position in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in shares of Apollo Global Management in the first quarter worth $39,000. Finally, Meeder Asset Management Inc. boosted its stake in Apollo Global Management by 118.6% during 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. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO opened at $138.30 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock's 50 day simple moving average is $140.63 and its 200 day simple moving average is $142.07. The firm has a market cap of $79.04 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.56 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same period in the previous year, the company earned $1.72 EPS. The company's quarterly revenue was down 21.2% on a year-over-year basis. As a group, analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the transaction, the chief financial officer owned 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of research analyst reports. Cowen restated a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Piper Sandler decreased their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citigroup boosted their price target on shares of 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, Barclays raised their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.00.

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.

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