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

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

Insiders Place Their Bets

In other news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the transaction, the director now directly owns 5,612,102 shares in the company, valued at approximately $239,748,997.44. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On APi Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors raised its stake in APi Group by 118.2% during the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock valued at $393,774,000 after purchasing an additional 5,931,314 shares during the period. Durable Capital Partners LP increased its holdings in shares of APi Group by 78.0% during the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock valued at $318,663,000 after acquiring an additional 3,903,632 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in APi Group in the 4th quarter worth $125,407,000. T. Rowe Price Investment Management Inc. boosted its position in shares of APi Group by 75.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock valued at $241,997,000 after acquiring an additional 2,906,783 shares during the period. Finally, Bessemer Group Inc. grew its position in APi Group by 479,614.2% during the first quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company's stock worth $102,929,000 after buying an additional 2,877,685 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

APi Group Trading Down 0.1%

NYSE:APG traded down $0.04 on Wednesday, hitting $47.53. 1,793,374 shares of the stock were exchanged, compared to its average volume of 1,731,098. The stock has a fifty day moving average of $39.95 and a 200-day moving average of $38.36. The stock has a market cap of $13.16 billion, a PE ratio of -24.13 and a beta of 1.54. APi Group has a fifty-two week low of $30.76 and a fifty-two week high of $48.18. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

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 issued shares will be distributed to shareholders after the market closes on Monday, June 30th.

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

Analyst Ratings Changes

APG has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of APi Group from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird lifted their target price on shares of APi Group from $47.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Citigroup lowered their price objective 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. Finally, Royal Bank of Canada set a $52.00 price objective on APi Group in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, APi Group presently has a consensus rating of "Moderate Buy" and an average price target of $50.57.

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.