Y Intercept Hong Kong Ltd Sells 42,470 Shares of APi Group Corporation $APG

Key Points

• Y Intercept Hong Kong Ltd cut its APi Group stake by 69% in the first quarter, selling 42,470 shares and ending with 19,064 shares valued at about $772,000.
• Insider selling has been notable, with director Martin E. Franklin selling 2 million shares for $84.16 million and director James E. Lillie selling 59,461 shares; insiders sold 3.45 million shares in the last quarter.
• APi Group reported solid quarterly results, beating EPS and revenue estimates with $0.32 EPS on $1.98 billion in revenue, while analysts currently rate the stock a moderate buy with an average target price of $52.14.

Y Intercept Hong Kong Ltd lessened its holdings in APi Group Corporation (NYSE:APG - Free Report) by 69.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,064 shares of the company's stock after selling 42,470 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in APi Group were worth $772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of APG. Root Financial Partners LLC lifted its position in shares of APi Group by 20.3% during the 1st quarter. Root Financial Partners LLC now owns 1,256 shares of the company's stock worth $51,000 after buying an additional 212 shares during the last quarter. Arizona State Retirement System grew its position in APi Group by 0.3% in the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company's stock valued at $3,772,000 after acquiring an additional 277 shares during the last quarter. Triad Wealth Partners LLC grew its position in APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company's stock valued at $415,000 after acquiring an additional 283 shares during the last quarter. Silicon Valley Capital Partners raised its stake in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock worth $29,000 after acquiring an additional 286 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after acquiring an additional 297 shares in the last quarter. Institutional investors own 86.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APG. Weiss Ratings downgraded shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Robert W. Baird set a $52.00 price objective on shares of APi Group in a research note on Friday, May 1st. UBS Group raised their target price on shares of APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Barclays reaffirmed 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.14.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 59,461 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the sale, the director directly owned 9,237,350 shares of the company's stock, valued at $420,299,425. The trade was a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the sale, the director directly owned 19,240,426 shares in the company, valued at $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,451,000 shares of company stock valued at $149,194,935 in the last quarter. 18.70% of the stock is currently owned by corporate insiders.

APi Group Price Performance

APi Group stock opened at $41.39 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $17.93 billion, a PE ratio of -58.29, a P/E/G ratio of 2.42 and a beta of 1.60. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The stock has a 50-day moving average price of $42.41 and a two-hundred day moving average price of $42.71.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $0.37 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that APi Group Corporation will post 1.71 EPS for the current year.

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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