Short Interest in APi Group Corporation (NYSE:APG) Declines By 21.8%

by · The Markets Daily

APi Group Corporation (NYSE:APGGet Free Report) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 7,725,362 shares, a decrease of 21.8% from the December 15th total of 9,876,621 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,721,615 shares, the short-interest ratio is presently 4.5 days. Based on an average daily trading volume, of 1,721,615 shares, the short-interest ratio is presently 4.5 days. Currently, 2.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of research reports. CJS Securities raised APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Citigroup reiterated a “buy” rating and set a $49.00 price target (up from $45.00) on shares of APi Group in a research report on Monday, January 12th. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. UBS Group set a $49.00 price objective on shares of APi Group and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.24.

Get Our Latest Report on APG

APi Group Trading Up 0.7%

Shares of APi Group stock traded up $0.29 on Friday, hitting $42.83. The stock had a trading volume of 2,370,292 shares, compared to its average volume of 2,051,779. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. APi Group has a one year low of $20.50 and a one year high of $43.26. The stock’s 50-day simple moving average is $39.24 and its two-hundred day simple moving average is $36.44. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 116.81 and a beta of 1.70.

APi Group (NYSE:APGGet Free Report) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts predict that APi Group will post 1.83 EPS for the current year.

Insider Buying and Selling at APi Group

In other news, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the completion of the sale, the director directly owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony E. Malkin bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average price of $39.58 per share, with a total value of $118,740.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $277,060. This represents a 75.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 7,000 shares of company stock worth $275,720 and have sold 900,000 shares worth $32,342,000. Company insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC increased its stake in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the period. Silicon Valley Capital Partners lifted its stake in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC boosted its holdings in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares in the last quarter. Bares Capital Management Inc. purchased a new position in APi Group during the 2nd quarter valued at $30,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in APi Group in the 3rd quarter worth $31,000. Institutional investors own 86.62% of the company’s stock.

APi Group Company Profile

(Get Free Report)

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.

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