Ian Ashken Sells 214,928 Shares of APi Group (NYSE:APG) Stock

Key Points

• APi Group director Ian Ashken sold 214,928 shares at an average price of $39.91, totaling approximately $8.58 million. The transaction, conducted under a Rule 10b5-1 plan, reduced his stake by 2.27% to 9.26 million shares.
• APi Group reported quarterly revenue of $2.25 billion, up 13.3% year over year and above estimates, while adjusted earnings of $0.44 per share narrowly exceeded expectations.
• Shares recently traded at $41.83, while analysts maintain a “Moderate Buy” consensus with an average price target of $52.57; institutional investors own 86.62% of the company.

APi Group Corporation (NYSE:APG - Get Free Report) Director Ian Ashken sold 214,928 shares of APi Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the completion of the transaction, the director directly owned 9,262,356 shares in the company, valued at approximately $369,660,627.96. The trade was a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Stock Up 0.7%

Shares of NYSE APG traded up $0.29 during trading hours on Wednesday, hitting $41.83. 2,136,496 shares of the stock were exchanged, compared to its average volume of 2,886,400. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91. The company has a market cap of $18.08 billion, a PE ratio of -62.43, a PEG ratio of 2.32 and a beta of 1.60. The firm has a fifty day moving average price of $41.26 and a 200-day moving average price of $42.68. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99.

APi Group (NYSE:APG - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm earned $0.39 earnings per share. APi Group's revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts expect that APi Group Corporation will post 1.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APG. Robert W. Baird set a $47.00 target price on APi Group in a research note on Friday, July 31st. Citigroup restated a "buy" rating and set a $54.00 price target (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. Weiss Ratings downgraded shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. UBS Group set a $52.00 price objective on shares of APi Group in a research report on Monday, July 20th. Finally, Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a "buy" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.57.

Institutional Trading of APi Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APG. Rathbones Group PLC raised its position in APi Group by 215.7% during the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company's stock valued at $8,108,000 after acquiring an additional 144,789 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in APi Group by 75.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 68,108 shares of the company's stock worth $2,606,000 after purchasing an additional 29,270 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in APi Group in the 4th quarter worth approximately $5,593,000. Hantz Financial Services Inc. grew its stake in shares of APi Group by 628.7% during the 4th quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company's stock worth $6,658,000 after purchasing an additional 150,139 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of APi Group by 5,212.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company's stock worth $15,747,000 after purchasing an additional 403,842 shares during the period. Institutional investors and hedge funds own 86.62% of the company's stock.

About APi Group

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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