Concentric Capital Strategies LP Reduces Stake in APi Group Co. (NYSE:APG)

Concentric Capital Strategies LP decreased its position in APi Group Co. (NYSE:APG) by 26.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,618 shares of the company’s stock after selling 50,571 shares during the quarter. Concentric Capital Strategies LP owned approximately 0.05% of APi Group worth $4,676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. bought a new position in shares of APi Group in the 3rd quarter worth approximately $26,000. Avior Wealth Management LLC bought a new position in APi Group in the third quarter worth approximately $33,000. J.Safra Asset Management Corp boosted 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 during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of APi Group during the 2nd quarter valued at $132,000. Finally, Strategic Financial Concepts LLC increased its stake in shares of APi Group by 3,622.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock worth $148,000 after purchasing an additional 382,012 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at APi Group

In related news, Director James E. Lillie sold 11,568 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the transaction, the director now directly owns 1,134,635 shares of the company’s stock, valued at approximately $41,958,802.30. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the sale, the director now directly owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by insiders.

APi Group Stock Up 0.6 %

Shares of APG opened at $37.78 on Monday. The business’s 50 day moving average is $34.66 and its 200 day moving average is $35.54. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group Co. has a 12-month low of $29.95 and a 12-month high of $39.98. The company has a market capitalization of $10.38 billion, a PE ratio of -19.18 and a beta of 1.54.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that APi Group Co. will post 1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APG has been the subject of several recent research reports. Robert W. Baird boosted their price target on APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price objective on shares of APi Group in a research note on Friday, November 1st. Finally, Barclays increased their target price on shares of APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.71.

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.