APi Group Corporation (NYSE:APG) Director Ian G. H. Ashken Sells 205,550 Shares

Key Points

• Ian G. H. Ashken, a director of APi Group Corporation, sold 205,550 shares of the company stock for a total of $7,243,582, leading to a 2.51% decrease in his position.
• APi Group reported $1.99 billion in revenue for the last quarter, exceeding analyst expectations of $1.88 billion, with earnings per share surpassing consensus estimates by $0.02.
• Several analysts have revised their price targets for APi Group, with Barclays setting a new target of $42.00, reflecting a positive outlook with a consensus buy rating among analysts.

APi Group Corporation (NYSE:APG - Get Free Report) Director Ian G. H. Ashken sold 205,550 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $35.24, for a total value of $7,243,582.00. Following the completion of the sale, the director directly owned 7,968,167 shares of the company's stock, valued at approximately $280,798,205.08. The trade was a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

APi Group Stock Up 0.6%

NYSE:APG traded up $0.22 on Monday, hitting $35.50. The stock had a trading volume of 171,817 shares, compared to its average volume of 3,075,528. The business's fifty day moving average is $34.14 and its 200 day moving average is $28.98. The company has a market cap of $14.77 billion, a PE ratio of 110.97 and a beta of 1.56. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.87. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $36.55.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.88 billion. APi Group had a return on equity of 21.33% and a net margin of 3.35%. The company's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, equities research analysts expect that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in APi Group by 6.7% in the first quarter. Signaturefd LLC now owns 4,067 shares of the company's stock worth $145,000 after acquiring an additional 256 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of APi Group by 2.3% in the first quarter. Amalgamated Bank now owns 12,253 shares of the company's stock valued at $438,000 after purchasing an additional 279 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of APi Group by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company's stock valued at $194,000 after purchasing an additional 303 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of APi Group by 3.6% in the first quarter. Cresset Asset Management LLC now owns 10,693 shares of the company's stock valued at $382,000 after purchasing an additional 374 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of APi Group by 10.7% in the first quarter. State of Wyoming now owns 4,106 shares of the company's stock valued at $147,000 after purchasing an additional 397 shares in the last quarter. Institutional investors own 86.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APG shares. Barclays restated an "overweight" rating and set a $42.00 target price (up previously from $40.00) on shares of APi Group in a research report on Monday, August 4th. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. UBS Group upped their target price on APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird upped their target price on APi Group from $31.33 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $34.67 target price on shares of APi Group in a research report on Friday, June 27th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, APi Group has a consensus rating of "Buy" and an average price target of $36.10.

APi Group Company 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.