HSBC Begins Coverage on Apollo Global Management (NYSE:APO)

Investment analysts at HSBC started coverage on shares of Apollo Global Management (NYSE:APO) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $145.00 price target on the financial services provider’s stock. HSBC’s price objective points to a potential upside of 22.44% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group decreased their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets lowered their price target on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. Barclays raised their price target on Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.08.

Apollo Global Management Trading Up 0.2%

NYSE:APO opened at $118.42 on Monday. The firm has a market capitalization of $68.27 billion, a P/E ratio of 75.43, a PEG ratio of 1.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management has a one year low of $99.56 and a one year high of $153.43. The company’s 50-day simple moving average is $127.01 and its 200 day simple moving average is $124.52.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, analysts forecast that Apollo Global Management will post 8.22 EPS for the current fiscal year.

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schnieders Capital Management LLC. bought a new position in Apollo Global Management during the second quarter valued at $7,954,000. Baird Financial Group Inc. boosted its stake in shares of Apollo Global Management by 117.5% during the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after purchasing an additional 8,709 shares during the period. Gamco Investors INC. ET AL grew its holdings in Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC bought a new position in Apollo Global Management during the 2nd quarter valued at about $722,000. Finally, Northern Right Capital Management L.P. raised its position in Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock worth $24,542,000 after purchasing an additional 2,500 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.