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APi Group Co. (NYSE:APG) Short Interest Down 18.1% in May

APi Group logo with Business Services background

APi Group Co. (NYSE:APG - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 4,210,000 shares, a decrease of 18.1% from the April 30th total of 5,140,000 shares. Currently, 2.8% of the company's stock are sold short. Based on an average daily trading volume, of 1,950,000 shares, the short-interest ratio is presently 2.2 days.

Wall Street Analyst Weigh In

Several brokerages recently commented on APG. Citigroup reduced their price target on APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. upped their price objective on APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays upped their price objective on APi Group from $48.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Truist Financial upped their price objective on APi Group from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, UBS Group upped their price objective on APi Group from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.57.

Read Our Latest Report on APi Group

APi Group Stock Performance

NYSE:APG traded up $0.88 on Friday, hitting $48.77. The company's stock had a trading volume of 1,979,328 shares, compared to its average volume of 1,733,249. 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 stock has a fifty day moving average of $40.69 and a two-hundred day moving average of $38.60. The firm has a market capitalization of $13.50 billion, a P/E ratio of -24.75 and a beta of 1.54. APi Group has a one year low of $30.76 and a one year high of $48.83.

Shares of APi Group are scheduled to split before the market opens on Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly created shares will be issued to shareholders after the closing bell on Monday, June 30th.

APi Group (NYSE:APG - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. Research analysts predict that APi Group will post 1.83 earnings per share for the current year.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 150,000 shares of the 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 completion of the transaction, the director now directly owns 5,612,102 shares of the company's stock, valued at approximately $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.00% of the stock is owned by insiders.

Hedge Funds Weigh In On APi Group

A number of large investors have recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of APi Group by 6.7% during the first quarter. Signaturefd LLC now owns 4,067 shares of the company's stock worth $145,000 after purchasing an additional 256 shares during the period. Amalgamated Bank increased its stake in APi Group by 2.3% during the 1st quarter. Amalgamated Bank now owns 12,253 shares of the company's stock worth $438,000 after acquiring an additional 279 shares during the period. PNC Financial Services Group Inc. increased its stake in APi Group by 5.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company's stock worth $194,000 after acquiring an additional 303 shares during the period. Equitable Trust Co. increased its stake in APi Group by 1.7% during the 4th quarter. Equitable Trust Co. now owns 20,676 shares of the company's stock worth $744,000 after acquiring an additional 351 shares during the period. Finally, CIBC Asset Management Inc increased its stake in APi Group by 5.3% during the 4th 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 period. Institutional investors own 86.62% of the company's stock.

APi Group Company Profile

(Get Free Report)

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.

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