51,620 Shares in APi Group Corporation $APG Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new stake in APi Group Corporation (NYSE:APG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,620 shares of the company’s stock, valued at approximately $2,092,000.

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in APi Group during the first quarter worth $650,000. Goldman Sachs Group Inc. increased its holdings in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after purchasing an additional 75,490 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP raised its position in shares of APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock valued at $8,861,000 after purchasing an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of APi Group by 5.7% during the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock worth $577,000 after buying an additional 612 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director directly owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. This trade represents a 9.64% 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 have sold a total of 3,451,000 shares of company stock worth $149,194,935 over the last three months. Company insiders own 18.70% of the company’s stock.

APi Group Price Performance

APi Group stock opened at $39.37 on Wednesday. The stock’s fifty day moving average price is $41.47 and its two-hundred day moving average price is $42.76. APi Group Corporation has a one year low of $33.40 and a one year high of $49.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. The firm has a market cap of $17.05 billion, a PE ratio of -55.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.60.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. As a group, research analysts expect that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on APG shares. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays reissued an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Citigroup restated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Finally, UBS Group set a $52.00 target price on APi Group in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.17.

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.