Freestone Grove Partners LP Takes $404,000 Position in APi Group Co. (NYSE:APG)

Freestone Grove Partners LP purchased a new stake in APi Group Co. (NYSE:APG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,220 shares of the company's stock, valued at approximately $404,000.

Other institutional investors have also recently bought and sold shares of the company. Equitable Trust Co. grew its stake in APi Group by 1.7% in the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company's stock valued at $744,000 after purchasing an additional 351 shares in the last quarter. CIBC Asset Management Inc lifted its position in APi Group by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,380 shares of the company's stock worth $265,000 after acquiring an additional 370 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of APi Group by 92.3% during the fourth quarter. Blue Trust Inc. now owns 804 shares of the company's stock worth $27,000 after acquiring an additional 386 shares during the period. EntryPoint Capital LLC grew its position in shares of APi Group by 3.9% in the fourth quarter. EntryPoint Capital LLC now owns 10,435 shares of the company's stock valued at $375,000 after purchasing an additional 389 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of APi Group by 53.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company's stock worth $43,000 after purchasing an additional 414 shares during the period. Institutional investors own 86.62% of the company's stock.

Insider Activity

In related news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the transaction, the director now owns 5,612,102 shares of the company's stock, valued at $239,748,997.44. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Lillie sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the sale, the director now owns 1,046,203 shares of the company's stock, valued at approximately $39,724,327.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.

APi Group Trading Up 1.1 %

APG stock traded up $0.50 during midday trading on Thursday, hitting $43.89. The stock had a trading volume of 3,103,771 shares, compared to its average volume of 1,699,297. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The firm has a market cap of $12.12 billion, a P/E ratio of -22.28 and a beta of 1.54. The business has a fifty day moving average price of $36.56 and a two-hundred day moving average price of $36.91. APi Group Co. has a 1-year low of $30.76 and a 1-year high of $44.37.

APi Group (NYSE:APG - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. On average, sell-side analysts predict that APi Group Co. will post 1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APG has been the topic of a number of recent research reports. Royal Bank of Canada upgraded APi Group from a "sector perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Tuesday, January 14th. Robert W. Baird lifted their price target on shares of APi Group from $40.00 to $46.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Truist Financial reiterated a "buy" rating and issued a $48.00 target price (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Barclays boosted their price target on APi Group from $43.00 to $48.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Citigroup decreased their price target on shares of APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, APi Group presently has an average rating of "Moderate Buy" and an average target price of $43.86.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.