Short Interest in APi Group Co. (NYSE:APG) Decreases By 7.2%

APi Group Co. (NYSE:APG) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 6,080,000 shares, a drop of 7.2% from the May 31st total of 6,550,000 shares. Based on an average daily volume of 1,720,000 shares, the short-interest ratio is currently 3.5 days. Currently, 4.1% of the shares of the stock are sold short.

APi Group Stock Up 0.9 %

Shares of NYSE APG opened at $36.86 on Thursday. The stock has a market cap of $10.11 billion, a P/E ratio of -17.14, a P/E/G ratio of 1.07 and a beta of 1.57. The firm has a 50 day moving average price of $37.27 and a 200 day moving average price of $36.15. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.35. APi Group has a 52-week low of $24.61 and a 52-week high of $39.98.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. Analysts expect that APi Group will post 1.88 EPS for the current year.

Insider Activity at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the transaction, the director now directly owns 5,828,779 shares of the company’s stock, valued at $216,888,866.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the transaction, the director now directly owns 5,828,779 shares of the company’s stock, valued at $216,888,866.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $38.15, for a total transaction of $74,460,483.30. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank acquired a new position in shares of APi Group in the third quarter valued at approximately $30,000. Nomura Asset Management Co. Ltd. lifted its position in shares of APi Group by 43.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company’s stock worth $44,000 after purchasing an additional 390 shares in the last quarter. Whittier Trust Co. lifted its position in shares of APi Group by 100.9% in the first quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock worth $59,000 after purchasing an additional 752 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of APi Group by 81.3% in the first 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. Finally, Motco bought a new stake in shares of APi Group in the first quarter worth $83,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of APi Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Royal Bank of Canada boosted their price target on shares of APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, April 8th. Citigroup boosted their price target on shares of APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Jefferies Financial Group assumed coverage on shares of APi Group in a research note on Friday, March 15th. They set a “buy” rating and a $48.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.29.

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.