APi Group Corporation (NYSE:APG) Sees Large Drop in Short Interest

APi Group Corporation (NYSE:APG) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 6,756,349 shares, a decline of 14.5% from the February 12th total of 7,898,864 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 3,141,921 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 3,141,921 shares, the short-interest ratio is presently 2.2 days. Approximately 1.9% of the shares of the stock are sold short.

APi Group Stock Down 1.9%

Shares of APG traded down $0.78 during mid-day trading on Wednesday, reaching $41.30. The company’s stock had a trading volume of 886,195 shares, compared to its average volume of 2,558,203. The company has a market cap of $17.82 billion, a price-to-earnings ratio of -54.61, a price-to-earnings-growth ratio of 2.46 and a beta of 1.69. The business has a fifty day moving average of $42.89 and a 200 day moving average of $38.84. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. APi Group has a 1 year low of $20.50 and a 1 year high of $46.89.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on APG shares. UBS Group raised their price objective on APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Citigroup lifted their price target on APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Truist Financial boosted their price objective on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and a consensus price target of $48.57.

Insider Buying and Selling

In other APi Group news, SVP Louis Lambert sold 22,000 shares of APi Group stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $44.71, for a total value of $983,620.00. Following the transaction, the senior vice president owned 16,148 shares in the company, valued at approximately $721,977.08. The trade was a 57.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 83,629 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the completion of the transaction, the director directly owned 9,522,350 shares in the company, valued at $408,889,709. This represents a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 682,000 shares of company stock worth $29,693,385 in the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

A number of large investors have recently made changes to their positions in APG. Sound Income Strategies LLC purchased a new position in APi Group during the fourth quarter valued at approximately $27,000. Clearstead Advisors LLC lifted its position in APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares in the last quarter. Silicon Valley Capital Partners boosted its stake in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares during the period. Parallel Advisors LLC boosted its stake in shares of APi Group by 55.3% during 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 during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of APi Group by 1,851.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

About APi Group

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.