Apollo Global Management, LLC (NYSE:APO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, July 11th.

According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “

Several other analysts have also recently commented on the company. Morgan Stanley restated an “equal weight” rating and issued a $26.00 price target (up previously from $25.00) on shares of Apollo Global Management in a report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a report on Friday, June 30th. BidaskClub lowered Apollo Global Management from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Goldman Sachs Group Inc lifted their price objective on Apollo Global Management from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Apollo Global Management in a research note on Friday, March 17th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $28.41.

Shares of Apollo Global Management (NYSE:APO) opened at 29.00 on Tuesday. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 11.35 and a beta of 1.22. The stock has a 50 day moving average of $27.30 and a 200 day moving average of $25.16. Apollo Global Management has a 12-month low of $17.23 and a 12-month high of $29.20.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by $0.04. The business had revenue of $432.87 million during the quarter, compared to analysts’ expectations of $455.29 million. Apollo Global Management had a net margin of 21.79% and a return on equity of 61.50%. The firm’s quarterly revenue was down 34.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. Equities research analysts predict that Apollo Global Management will post $2.47 earnings per share for the current fiscal year.

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In other news, Director Robert K. Kraft purchased 30,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of $28.88 per share, for a total transaction of $866,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc purchased 859,600 shares of the stock in a transaction dated Monday, May 22nd. The stock was purchased at an average price of $26.22 per share, with a total value of $22,538,712.00. The disclosure for this purchase can be found here. Insiders bought a total of 3,662,418 shares of company stock valued at $98,549,333 over the last quarter. Company insiders own 4.11% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Apollo Global Management by 2.8% in the first quarter. FMR LLC now owns 8,216,804 shares of the financial services provider’s stock worth $199,833,000 after buying an additional 223,452 shares during the last quarter. Bank of America Corp DE increased its position in shares of Apollo Global Management by 66.0% in the first quarter. Bank of America Corp DE now owns 4,612,397 shares of the financial services provider’s stock worth $112,173,000 after buying an additional 1,833,690 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Apollo Global Management by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 3,534,713 shares of the financial services provider’s stock worth $85,964,000 after buying an additional 296,477 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Apollo Global Management by 29.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,070,745 shares of the financial services provider’s stock worth $74,681,000 after buying an additional 707,416 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its position in shares of Apollo Global Management by 2.0% in the second quarter. Beck Mack & Oliver LLC now owns 3,056,035 shares of the financial services provider’s stock worth $80,832,000 after buying an additional 60,473 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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