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

APi Group Co. (NYSE:APG) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 4,310,000 shares, a growth of 47.1% from the February 13th total of 2,930,000 shares. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.9% of the shares of the company are short sold.

APi Group Trading Up 0.9 %

Shares of NYSE:APG traded up $0.35 during midday trading on Monday, reaching $37.52. The company had a trading volume of 880,409 shares, compared to its average volume of 1,637,535. The company has a fifty day simple moving average of $37.69 and a two-hundred day simple moving average of $36.16. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of -19.04 and a beta of 1.54. APi Group has a 1-year low of $31.44 and a 1-year high of $41.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

Insiders Place Their Bets

In other APi Group news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APG. Capital Research Global Investors grew its holdings in shares of APi Group by 118.2% during the fourth quarter. Capital Research Global Investors now owns 10,947,284 shares of the company’s stock valued at $393,774,000 after buying an additional 5,931,314 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in APi Group during the 4th quarter worth about $125,407,000. Durable Capital Partners LP grew its stake in APi Group by 199.8% during the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company’s stock valued at $180,121,000 after acquiring an additional 3,337,468 shares in the last quarter. Norges Bank acquired a new position in shares of APi Group in the 4th quarter valued at about $98,028,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of APi Group by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company’s stock valued at $562,120,000 after purchasing an additional 2,602,758 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup dropped their target price on APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada upgraded APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, January 14th. Robert W. Baird raised their target price on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. William Blair reiterated an “outperform” rating on shares of APi Group in a research report on Thursday, December 5th. Finally, Truist Financial restated a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.43.

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.