Magnetar Financial LLC Invests $5.47 Million in APi Group Corporation $APG

Magnetar Financial LLC acquired a new position in shares of APi Group Corporation (NYSE:APG) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 159,260 shares of the company’s stock, valued at approximately $5,474,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bares Capital Management Inc. purchased a new position in APi Group in the second quarter valued at about $30,000. Clearstead Advisors LLC lifted its position in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the last quarter. Parallel Advisors LLC boosted its holdings 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. Steigerwald Gordon & Koch Inc. bought a new stake in shares of APi Group in the 3rd quarter valued at about $31,000. Finally, Root Financial Partners LLC purchased a new position in shares of APi Group in the 3rd quarter worth approximately $32,000. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Up 0.1%

APG stock opened at $41.63 on Thursday. The stock has a market capitalization of $17.96 billion, a PE ratio of -55.01, a price-to-earnings-growth ratio of 2.48 and a beta of 1.69. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $46.89. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $42.79 and a 200 day moving average of $38.68.

APi Group (NYSE:APG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $0.51 EPS. APi Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 100,888 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $44.30, for a total value of $4,469,338.40. Following the completion of the transaction, the director owned 9,706,462 shares in the company, valued at $429,996,266.60. This trade represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Louis Lambert sold 22,000 shares of APi Group stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $44.71, for a total value of $983,620.00. Following the sale, the senior vice president directly owned 16,148 shares of the company’s stock, valued at approximately $721,977.08. This represents a 57.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 682,000 shares of company stock valued at $29,693,385 in the last ninety days. Company insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Barclays lifted their price target on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. UBS Group upped their price target on APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Finally, Truist Financial raised their price objective on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

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.