Wall Street Zen Downgrades Apollo Global Management (NYSE:APO) to Strong Sell

Key Points

• Wall Street Zen downgraded Apollo Global Management (NYSE: APO) from “sell” to “strong sell,” adding to a mixed analyst backdrop on the stock.
• Despite that downgrade, the broader analyst view remains more positive overall, with a consensus rating of “Moderate Buy” and a consensus price target of $149.08.
• Apollo recently beat earnings estimates with $1.94 EPS versus $1.89 expected, though revenue came in below forecasts and was down 8.8% year over year.

Apollo Global Management (NYSE:APO - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday.

Other analysts have also issued research reports about the company. Piper Sandler decreased their price target on Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Royal Bank Of Canada cut their price objective on Apollo Global Management from $146.00 to $137.00 and set a "sector perform" rating for the company in a report on Monday, July 13th. BMO Capital Markets reduced their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating on the stock in a research note on Monday, July 13th. TD Cowen lowered their target price on shares of Apollo Global Management from $155.00 to $146.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Finally, UBS Group increased their target price on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $149.08.

Apollo Global Management Stock Up 3.0%

Shares of APO opened at $122.53 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $126.18 and a two-hundred day moving average price of $124.14. The stock has a market cap of $70.64 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 1.04 and a beta of 1.50. Apollo Global Management has a 12 month low of $99.56 and a 12 month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the company posted $1.82 EPS. The company's revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Apollo Global Management will post 8.19 EPS for the current fiscal year.

Insider Activity at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.30% of the company's stock.

Institutional Investors Weigh In On Apollo Global Management

Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners raised its stake in shares of Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock worth $474,384,000 after acquiring an additional 1,692,532 shares during the last quarter. Temasek Holdings Private Ltd raised its position in Apollo Global Management by 214.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Focus Partners Wealth lifted its holdings in Apollo Global Management by 2,560.3% during the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider's stock worth $203,324,000 after buying an additional 1,351,778 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Apollo Global Management by 271.8% during the 4th quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider's stock worth $148,255,000 after buying an additional 748,697 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Apollo Global Management by 5,321.9% in the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider's stock valued at $79,845,000 after buying an additional 541,397 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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