Y Intercept Hong Kong Ltd Has $772,000 Stock Holdings in APi Group Corporation $APG

Y Intercept Hong Kong Ltd trimmed its stake in shares of APi Group Corporation (NYSE:APG) by 69.0% in the first quarter, Holdings Channel.com reports. The fund owned 19,064 shares of the company’s stock after selling 42,470 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in APi Group were worth $772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new stake in APi Group in the fourth quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its holdings in APi Group by 14,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position 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 worth $29,000 after purchasing an additional 722 shares during the period. IFP Advisors Inc lifted its position in shares of APi Group by 146.7% in the 4th quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. Finally, Parallel Advisors LLC boosted 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 purchasing an additional 297 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APG. Weiss Ratings cut shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Barclays restated an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Robert W. Baird set a $52.00 price target on shares of APi Group in a research report on Friday, May 1st. Finally, UBS Group increased their price target on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One investment 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. According to data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average price target of $52.14.

Insider Activity at APi Group

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director directly owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 225,539 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares in the company, valued at $417,147,909.57. This represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,451,000 shares of company stock valued at $149,194,935 in the last ninety days. Insiders own 18.70% of the company’s stock.

APi Group Price Performance

Shares of APG opened at $41.39 on Monday. The firm has a market cap of $17.93 billion, a PE ratio of -58.29, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99. The business’s 50 day moving average price is $42.41 and its two-hundred day moving average price is $42.71. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. On average, equities analysts anticipate that APi Group Corporation will post 1.71 EPS for the current year.

APi Group 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.