TD Cowen Cuts Apollo Global Management (NYSE:APO) Price Target to $144.00

Apollo Global Management (NYSE:APO) had its target price lowered by equities research analysts at TD Cowen from $214.00 to $144.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 19.93% from the company’s previous close.

APO has been the topic of several other research reports. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. BMO Capital Markets raised their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley upped their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods dropped their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler decreased their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.16.

Apollo Global Management Trading Up 8.7 %

NYSE APO traded up $9.66 during mid-day trading on Wednesday, hitting $120.07. The company’s stock had a trading volume of 3,458,201 shares, compared to its average volume of 3,685,785. The firm has a market capitalization of $68.50 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management has a 52-week low of $95.11 and a 52-week high of $189.49. The stock’s fifty day simple moving average is $144.98 and its two-hundred day simple moving average is $153.60.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Baker Tilly Wealth Management LLC increased its stake in shares of Apollo Global Management by 3.3% in the first quarter. Baker Tilly Wealth Management LLC now owns 5,770 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 182 shares during the period. Czech National Bank grew its holdings in Apollo Global Management by 5.9% in the 1st quarter. Czech National Bank now owns 102,667 shares of the financial services provider’s stock worth $14,059,000 after buying an additional 5,749 shares in the last quarter. Rhumbline Advisers raised its stake in Apollo Global Management by 2.9% during the 1st quarter. Rhumbline Advisers now owns 847,085 shares of the financial services provider’s stock valued at $116,000,000 after acquiring an additional 23,943 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Apollo Global Management by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,159 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 119 shares during the period. Finally, Doliver Advisors LP grew its stake in shares of Apollo Global Management by 13.0% in the first quarter. Doliver Advisors LP now owns 17,143 shares of the financial services provider’s stock worth $2,348,000 after purchasing an additional 1,969 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.