Lecap Asset Management Ltd. Acquires Shares of 28,550 APi Group Co. (NYSE:APG)

Lecap Asset Management Ltd. bought a new position in APi Group Co. (NYSE:APG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,550 shares of the company’s stock, valued at approximately $943,000.

Several other institutional investors have also added to or reduced their stakes in APG. Allspring Global Investments Holdings LLC increased its position in APi Group by 4.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock valued at $227,881,000 after acquiring an additional 324,544 shares during the last quarter. Raymond James & Associates lifted its holdings in APi Group by 20.2% during the third quarter. Raymond James & Associates now owns 173,774 shares of the company’s stock valued at $5,738,000 after purchasing an additional 29,175 shares in the last quarter. Swedbank AB boosted its position in shares of APi Group by 18.8% in the third quarter. Swedbank AB now owns 2,209,000 shares of the company’s stock worth $72,941,000 after purchasing an additional 349,000 shares during the period. NBC Securities Inc. purchased a new stake in shares of APi Group in the third quarter worth $421,000. Finally, Handelsbanken Fonder AB raised its position in shares of APi Group by 22.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 53,300 shares of the company’s stock valued at $1,760,000 after purchasing an additional 9,700 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Stock Performance

Shares of APi Group stock opened at $33.56 on Thursday. The stock’s fifty day moving average is $33.92 and its two-hundred day moving average is $35.94. The company has a market capitalization of $9.21 billion, a PE ratio of -15.61 and a beta of 1.55. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. APi Group Co. has a 52 week low of $24.98 and a 52 week high of $39.98.

APi Group (NYSE:APG) last issued its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts expect that APi Group Co. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Robert W. Baird decreased their target price on APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays cut their price target on APi Group from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.86.

Insiders Place Their Bets

In related news, SVP Louis Lambert sold 6,333 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.45, for a total transaction of $205,505.85. Following the completion of the sale, the senior vice president now directly owns 8,100 shares in the company, valued at $262,845. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Louis Lambert sold 6,333 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.45, for a total transaction of $205,505.85. Following the transaction, the senior vice president now directly owns 8,100 shares of the company’s stock, valued at $262,845. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.03, for a total value of $4,954,500.00. Following the transaction, the director now directly owns 5,678,779 shares in the company, valued at $187,570,070.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 340,358 shares of company stock worth $11,653,157. 16.40% of the stock is currently owned by company insiders.

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.