Apollo Global Management (NYSE:APO) Shares Gap Up – Time to Buy?

Apollo Global Management Inc. (NYSE:APO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $123.95, but opened at $132.25. Apollo Global Management shares last traded at $132.1360, with a volume of 1,954,069 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APO. Barclays reduced their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Morgan Stanley reduced their price objective on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Evercore ISI raised their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $162.57.

Apollo Global Management Stock Performance

The firm has a 50-day moving average of $131.30 and a two-hundred day moving average of $136.18. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $75.00 billion, a PE ratio of 24.53, a PEG ratio of 1.42 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period last year, the business earned $1.64 earnings per share. Research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.

Insider Activity at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after buying an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after buying an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Apollo Global Management by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock valued at $432,727,000 after buying an additional 36,866 shares in the last quarter. Boston Partners purchased a new stake in shares of Apollo Global Management in the first quarter valued at approximately $370,543,000. Finally, Allen Investment Management LLC boosted its stake in shares of Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock worth $361,664,000 after acquiring an additional 333,428 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.