Lombard Odier Asset Management USA Corp Has $1.62 Million Position in APi Group Corporation $APG

Lombard Odier Asset Management USA Corp lessened its holdings in APi Group Corporation (NYSE:APG) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,897 shares of the company’s stock after selling 19,696 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in APi Group were worth $1,617,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC lifted its holdings in shares of APi Group by 20.3% during the 1st quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock worth $51,000 after acquiring an additional 212 shares during the period. Arizona State Retirement System increased its stake in APi Group by 0.3% in the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock valued at $3,772,000 after acquiring an additional 277 shares during the period. Triad Wealth Partners LLC raised its position in APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock worth $415,000 after purchasing an additional 283 shares in the last quarter. Silicon Valley Capital Partners raised its position in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 286 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Price Performance

NYSE:APG opened at $39.58 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The firm has a market cap of $17.15 billion, a PE ratio of -55.74, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The company’s 50-day moving average price is $41.55 and its two-hundred day moving average price is $42.76.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts anticipate that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the sale, the director directly owned 9,477,284 shares in the company, valued at $431,121,649.16. This represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,451,000 shares of company stock valued at $149,194,935 in the last 90 days. Insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APG. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup reissued a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Robert W. Baird set a $52.00 target price on APi Group in a research report on Friday, May 1st. Truist Financial set a $55.00 price target on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, UBS Group set a $52.00 price target on APi Group in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.17.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.