Apollo Global Management (NYSE:APO) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued on Wednesday, Zacks.com reports.
According to Zacks, "Apollo Global Management LLC provides alternative asset manager services. It operates primarily in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo Global Management LLC is based in New York, United States. "
A number of other equities analysts have also recently commented on the company. TheStreet cut Apollo Global Management from a "b-" rating to a "c+" rating in a report on Monday, November 2nd. Oppenheimer restated a "hold" rating on shares of Apollo Global Management in a research report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on Apollo Global Management from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Friday, December 18th. Wells Fargo & Company boosted their price objective on Apollo Global Management from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Evercore ISI upgraded Apollo Global Management from an "in-line" rating to an "outperform" rating and set a $52.00 price objective on the stock in a research report on Monday, October 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Apollo Global Management currently has an average rating of "Hold" and a consensus target price of $59.36.
Shares of APO stock traded up $0.17 during trading hours on Wednesday, reaching $47.15. 81,450 shares of the company's stock were exchanged, compared to its average volume of 1,131,524. Apollo Global Management has a fifty-two week low of $19.46 and a fifty-two week high of $55.38. The stock has a market capitalization of $10.79 billion, a P/E ratio of -56.13 and a beta of 1.62. The business has a fifty day moving average price of $47.42 and a 200-day moving average price of $46.46. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.87.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The firm had revenue of $501.02 million during the quarter, compared to the consensus estimate of $467.10 million. During the same period in the previous year, the business posted $0.52 EPS. The firm's revenue was up 24.8% on a year-over-year basis. As a group, research analysts expect that Apollo Global Management will post 1.81 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Apollo Global Management by 1.9% in the 3rd quarter. State Street Corp now owns 3,364,283 shares of the financial services provider's stock worth $150,552,000 after acquiring an additional 62,922 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Apollo Global Management by 3,259.9% during the third quarter. Alps Advisors Inc. now owns 1,871,000 shares of the financial services provider's stock valued at $2,456,000 after purchasing an additional 1,815,314 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Apollo Global Management by 13.4% during the third quarter. William Blair Investment Management LLC now owns 969,065 shares of the financial services provider's stock valued at $43,366,000 after purchasing an additional 114,801 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 6.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 892,206 shares of the financial services provider's stock valued at $44,539,000 after purchasing an additional 51,300 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Apollo Global Management during the second quarter valued at approximately $42,087,000. Hedge funds and other institutional investors own 71.95% of the company's stock.
Apollo Global Management Company Profile
Apollo Global Management, Inc is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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