Sovereign s Capital Management LLC Sells 12,701 Shares of APi Group Corporation $APG

Sovereign s Capital Management LLC cut its stake in APi Group Corporation (NYSE:APG) by 49.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,956 shares of the company’s stock after selling 12,701 shares during the period. Sovereign s Capital Management LLC’s holdings in APi Group were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in shares of APi Group in the 4th quarter valued at $27,000. Clearstead Advisors LLC raised its stake in shares of APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares in the last quarter. Silicon Valley Capital Partners raised its stake in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Trading Up 2.0%

Shares of APi Group stock opened at $42.48 on Wednesday. The stock has a market capitalization of $18.40 billion, a P/E ratio of -59.83, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. 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 company has a 50-day simple moving average of $43.99 and a 200 day simple moving average of $42.35. APi Group Corporation has a 12-month low of $31.95 and a 12-month high of $49.99.

APi Group (NYSE:APG) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. Research analysts expect that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of recent research reports. Weiss Ratings cut shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada increased their price objective on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. UBS Group increased their price objective on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays restated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.14.

Insider Buying and Selling

In related news, Director James E. Lillie sold 59,461 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the sale, the director owned 9,237,350 shares in the company, valued at $420,299,425. This trade represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction dated 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 owned 9,477,284 shares of the company’s stock, valued at $431,121,649.16. This trade represents a 0.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,444,000 shares of company stock worth $271,537,645 in the last quarter. 18.70% of the stock is owned by corporate insiders.

APi Group Company Profile

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.