Scoggin Management LP trimmed its position in shares of APi Group Co. (NYSE:APG) by 36.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,000 shares of the company’s stock after selling 45,000 shares during the quarter. APi Group makes up approximately 0.5% of Scoggin Management LP’s holdings, making the stock its 22nd largest position. Scoggin Management LP’s holdings in APi Group were worth $1,138,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of APG. JPMorgan Chase & Co. lifted its stake in APi Group by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 262,017 shares of the company’s stock worth $3,718,000 after acquiring an additional 6,244 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in APi Group by 196.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 948,469 shares of the company’s stock valued at $13,497,000 after acquiring an additional 628,969 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in APi Group in the third quarter valued at $206,000. Johnson Financial Group Inc. purchased a new position in APi Group during the 3rd quarter worth approximately $996,000. Finally, Royce & Associates LP lifted its stake in APi Group by 5.8% in the third quarter. Royce & Associates LP now owns 455,000 shares of the company’s stock valued at $6,475,000 after buying an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 78.30% of the company’s stock.
A number of equities research analysts have recently commented on APG shares. Zacks Investment Research raised shares of APi Group from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Monday, November 16th. Citigroup increased their price objective on APi Group from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. ValuEngine downgraded APi Group from a “hold” rating to a “sell” rating in a research report on Monday, November 2nd. Barclays assumed coverage on APi Group in a research report on Tuesday, September 22nd. They issued an “overweight” rating and a $19.00 price target for the company. Finally, UBS Group boosted their price objective on shares of APi Group from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.50.
NYSE:APG traded down $0.01 during trading hours on Monday, hitting $15.71. The stock had a trading volume of 17,735 shares, compared to its average volume of 1,334,213. The firm has a 50 day simple moving average of $15.11. APi Group Co. has a 1-year low of $8.84 and a 1-year high of $16.52. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.73.
APi Group (NYSE:APG) last released its quarterly earnings results on Sunday, November 15th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.09. The firm had revenue of $953.00 million for the quarter, compared to analyst estimates of $949.21 million. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities analysts anticipate that APi Group Co. will post 1.14 earnings per share for the current year.
About APi Group
APi Group Corporation provides commercial life safety solutions and industrial specialty services. The company offers specialty contracting services and solutions to the energy industry focused on transmission and distribution in the United States and Canada; and industrial services, including the retrofit and upgrading of existing pipeline facilities.
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