APi Group Co. (NYSE:APG) Sees Large Increase in Short Interest

APi Group Co. (NYSE:APG) saw a significant growth in short interest during 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 trading volume of 1,510,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.4% of the shares of the company are sold short.

Analyst Ratings Changes

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

APi Group Stock Performance

Shares of NYSE:APG traded down $0.84 during midday trading on Friday, reaching $35.37. 1,460,103 shares of the company’s stock traded hands, compared to its average volume of 1,724,933. APi Group has a one year low of $28.97 and a one year high of $39.98. The stock has a 50 day moving average of $34.11 and a 200 day moving average of $35.59. The company has a market cap of $9.72 billion, a price-to-earnings ratio of -17.95 and a beta of 1.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. As a group, equities research analysts anticipate that APi Group will post 1.86 EPS for the current fiscal year.

Insider Activity at APi Group

In other news, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the sale, the director now owns 5,478,779 shares of the company’s stock, valued at $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the sale, the director now owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,461 shares of company stock valued at $8,907,049. 18.20% of the stock is owned by insiders.

Hedge Funds Weigh In On APi Group

Hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. bought a new stake in APi Group during the third quarter valued at approximately $26,000. Avior Wealth Management LLC bought a new stake in shares of APi Group during the 3rd quarter valued at $33,000. J.Safra Asset Management Corp increased its stake in shares of APi Group by 81.3% in the 1st quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock worth $68,000 after purchasing an additional 776 shares in the last quarter. Motco bought a new position in APi Group in the 1st quarter worth $83,000. Finally, Triad Wealth Partners LLC purchased a new position in APi Group during the second quarter valued at $132,000. 86.62% of the stock is owned by institutional investors.

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.