APi Group Co. (NYSE:APG) Short Interest Update

APi Group Co. (NYSE:APG) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 5,120,000 shares, a growth of 48.0% from the October 15th total of 3,460,000 shares. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is currently 3.4 days. Approximately 3.4% of the company’s stock are short sold.

APi Group Stock Performance

NYSE APG traded down $0.84 on Friday, reaching $35.37. The stock had a trading volume of 1,460,103 shares, compared to its average volume of 1,724,933. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a fifty day moving average of $34.11 and a two-hundred day moving average of $35.59. APi Group has a 1-year low of $28.97 and a 1-year high of $39.98. The company has a market cap of $9.72 billion, a P/E ratio of -17.95 and a beta of 1.54.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that APi Group will post 1.86 EPS for the current year.

Insider Activity

In related news, Director Martin E. Franklin sold 178,346 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the completion of the sale, the director now owns 14,267,479 shares of the company’s stock, valued at $503,071,309.54. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Louis Lambert sold 5,679 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $36.04, for a total transaction of $204,671.16. Following the transaction, the senior vice president now owns 2,421 shares of the company’s stock, valued at approximately $87,252.84. This trade represents a 70.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,461 shares of company stock worth $8,907,049 over the last 90 days. Company insiders own 18.20% of the company’s stock.

Institutional Trading of APi Group

Several institutional investors and hedge funds have recently modified their holdings of APG. Cetera Advisors LLC raised its position in APi Group by 1.1% in the first quarter. Cetera Advisors LLC now owns 27,242 shares of the company’s stock valued at $1,070,000 after purchasing an additional 287 shares during the last quarter. Commonwealth Equity Services LLC raised its position in APi Group by 0.3% in the second quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company’s stock valued at $4,091,000 after purchasing an additional 323 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in APi Group by 4.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company’s stock valued at $278,000 after purchasing an additional 333 shares during the last quarter. J.Safra Asset Management Corp raised its position in APi Group by 21.5% in the second quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company’s stock valued at $79,000 after purchasing an additional 373 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in APi Group by 2.1% in the second quarter. AQR Capital Management LLC now owns 20,059 shares of the company’s stock valued at $755,000 after purchasing an additional 406 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APG. JPMorgan Chase & Co. reduced their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barclays lifted their price target on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird cut their price target on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of APi Group in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

About APi Group

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.