Ghisallo Capital Management LLC Has $13.17 Million Stock Position in APi Group Co. (NYSE:APG)

Ghisallo Capital Management LLC lifted its stake in shares of APi Group Co. (NYSE:APG) by 40.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the company’s stock after acquiring an additional 100,000 shares during the period. APi Group makes up about 0.8% of Ghisallo Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Ghisallo Capital Management LLC owned about 0.13% of APi Group worth $13,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisors LLC lifted its holdings in shares of APi Group by 1.1% in the first quarter. Cetera Advisors LLC now owns 27,242 shares of the company’s stock valued at $1,070,000 after purchasing an additional 287 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in APi Group by 0.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company’s stock valued at $4,091,000 after acquiring an additional 323 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in APi Group by 4.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company’s stock worth $278,000 after acquiring an additional 333 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of APi Group by 21.5% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company’s stock worth $79,000 after acquiring an additional 373 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of APi Group by 2.1% during the 2nd quarter. AQR Capital Management LLC now owns 20,059 shares of the company’s stock worth $755,000 after acquiring an additional 406 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Robert W. Baird reduced their target price on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Barclays reduced their price objective on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Insider Buying and Selling

In other APi Group news, SVP Louis Lambert sold 6,333 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.45, for a total value of $205,505.85. Following the transaction, the senior vice president now directly owns 8,100 shares of the company’s stock, valued at approximately $262,845. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Louis Lambert sold 6,333 shares of APi Group stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.45, for a total transaction of $205,505.85. Following the completion of the sale, the senior vice president now owns 8,100 shares of the company’s stock, valued at $262,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the transaction, the director now owns 5,678,779 shares in the company, valued at $187,570,070.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,358 shares of company stock valued at $11,653,157. Company insiders own 16.40% of the company’s stock.

APi Group Price Performance

NYSE:APG opened at $32.38 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98. The stock’s 50 day moving average price is $34.52 and its two-hundred day moving average price is $36.56. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of -15.06 and a beta of 1.56.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts anticipate that APi Group Co. will post 1.86 earnings per share for the current 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.