Spyglass Capital Management LLC Increases Position in APi Group Corporation $APG

Spyglass Capital Management LLC boosted its position in shares of APi Group Corporation (NYSE:APG) by 26.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,524,696 shares of the company’s stock after acquiring an additional 523,955 shares during the period. APi Group accounts for 7.4% of Spyglass Capital Management LLC’s investment portfolio, making the stock its biggest holding. Spyglass Capital Management LLC owned approximately 0.61% of APi Group worth $128,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of APi Group during the 1st quarter worth about $38,000. Ulland Investment Advisors LLC grew its holdings in APi Group by 41.5% in the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $77,000 after buying an additional 440 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new position in APi Group in the 2nd quarter worth approximately $98,000. State of Wyoming increased its position in APi Group by 10.7% in the 1st quarter. State of Wyoming now owns 4,106 shares of the company’s stock worth $147,000 after buying an additional 397 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of APi Group by 5.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock worth $194,000 after buying an additional 303 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Martin E. Franklin sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.64, for a total transaction of $41,568,000.00. Following the completion of the transaction, the director owned 19,868,790 shares in the company, valued at $688,254,885.60. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 2,100,000 shares of company stock valued at $73,910,000. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APG. Citigroup raised their price objective on shares of APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research report on Tuesday, November 25th. Barclays boosted their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and a consensus price target of $38.52.

APi Group Price Performance

Shares of APi Group stock opened at $39.56 on Monday. The firm has a market cap of $16.45 billion, a P/E ratio of 107.89 and a beta of 1.72. The firm’s 50-day simple moving average is $35.74 and its 200-day simple moving average is $34.55. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $39.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. APi Group has set its FY 2025 guidance at EPS. As a group, research analysts expect that APi Group Corporation will post 1.83 EPS for the current fiscal year.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.