Insider Buying: Apollo Global Management LLC (APO) Major Shareholder Acquires 135,700 Shares of Stock

Apollo Global Management LLC (NYSE:APO) major shareholder Tiger Global Management Llc purchased 135,700 shares of the firm’s stock in a transaction on Thursday, December 6th. The shares were acquired at an average price of $26.49 per share, with a total value of $3,594,693.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tiger Global Management Llc also recently made the following trade(s):

  • On Tuesday, December 4th, Tiger Global Management Llc purchased 100,000 shares of Apollo Global Management stock. The shares were acquired at an average price of $26.67 per share, with a total value of $2,667,000.00.
  • On Monday, November 19th, Tiger Global Management Llc purchased 100,000 shares of Apollo Global Management stock. The shares were acquired at an average price of $27.54 per share, with a total value of $2,754,000.00.
  • On Wednesday, November 14th, Tiger Global Management Llc purchased 72,924 shares of Apollo Global Management stock. The shares were acquired at an average price of $28.25 per share, with a total value of $2,060,103.00.
  • On Friday, November 16th, Tiger Global Management Llc purchased 965,000 shares of Apollo Global Management stock. The shares were acquired at an average price of $28.09 per share, with a total value of $27,106,850.00.
  • On Thursday, October 25th, Tiger Global Management Llc purchased 102,193 shares of Apollo Global Management stock. The shares were acquired at an average price of $28.46 per share, with a total value of $2,908,412.78.
  • On Tuesday, October 23rd, Tiger Global Management Llc purchased 815,000 shares of Apollo Global Management stock. The shares were acquired at an average price of $29.26 per share, with a total value of $23,846,900.00.

Shares of APO stock traded down $0.65 on Friday, reaching $26.09. 731,442 shares of the company were exchanged, compared to its average volume of 1,073,754. The stock has a market capitalization of $5.39 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.05 and a quick ratio of 1.05. Apollo Global Management LLC has a one year low of $25.65 and a one year high of $37.35.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.03). The company had revenue of $497.16 million for the quarter, compared to the consensus estimate of $596.75 million. Apollo Global Management had a return on equity of 43.98% and a net margin of 19.45%. Apollo Global Management’s revenue for the quarter was down 28.3% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. On average, analysts anticipate that Apollo Global Management LLC will post 1.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date was Monday, November 19th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio is 51.54%.

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Apollo Global Management by 482.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,683 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 3,051 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Apollo Global Management during the 2nd quarter worth about $139,000. Ancora Advisors LLC bought a new position in shares of Apollo Global Management during the 3rd quarter worth about $156,000. Cerebellum GP LLC boosted its position in shares of Apollo Global Management by 1,214.8% during the 3rd quarter. Cerebellum GP LLC now owns 5,154 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 4,762 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Apollo Global Management during the 3rd quarter worth about $210,000. 73.70% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on APO. Citigroup decreased their price target on Apollo Global Management from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, November 1st. ValuEngine downgraded Apollo Global Management from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Oppenheimer set a $43.00 price target on Apollo Global Management and gave the stock a “buy” rating in a report on Wednesday, October 31st. Goldman Sachs Group upgraded Apollo Global Management from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 1st. Finally, Zacks Investment Research upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.38.

TRADEMARK VIOLATION NOTICE: This report was first reported by Stock Observer and is owned by of Stock Observer. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.thestockobserver.com/2018/12/08/insider-buying-apollo-global-management-llc-apo-major-shareholder-acquires-135700-shares-of-stock.html.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

Recommended Story: Moving Average – How it Helps Investors in Stock Selection

Insider Buying and Selling by Quarter for Apollo Global Management (NYSE:APO)

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply