Driehaus Capital Management LLC Boosts Holdings in APi Group Co. (NYSE:APG)

Driehaus Capital Management LLC lifted its position in APi Group Co. (NYSE:APG) by 48.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,517,933 shares of the company’s stock after acquiring an additional 498,492 shares during the quarter. Driehaus Capital Management LLC owned 0.55% of APi Group worth $57,120,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Select Equity Group L.P. raised its stake in shares of APi Group by 7.6% during the second quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock valued at $92,743,000 after acquiring an additional 173,544 shares in the last quarter. Mackenzie Financial Corp raised its position in APi Group by 40.2% during the 2nd quarter. Mackenzie Financial Corp now owns 29,895 shares of the company’s stock valued at $1,125,000 after purchasing an additional 8,578 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of APi Group in the 2nd quarter worth $2,155,000. Millennium Management LLC bought a new position in shares of APi Group during the 2nd quarter worth $67,412,000. Finally, AQR Capital Management LLC increased its stake in shares of APi Group by 2.1% during the second quarter. AQR Capital Management LLC now owns 20,059 shares of the company’s stock valued at $755,000 after buying an additional 406 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Down 0.9 %

Shares of APG stock opened at $33.64 on Friday. APi Group Co. has a fifty-two week low of $24.61 and a fifty-two week high of $39.98. The firm has a market capitalization of $9.23 billion, a PE ratio of -15.65 and a beta of 1.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.48. The stock’s 50-day simple moving average is $34.74 and its 200-day simple moving average is $36.67.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.49 earnings per share 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 for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that APi Group Co. will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APG has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their price objective on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Barclays lowered their target price on APi Group from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.03, for a total value of $4,954,500.00. Following the completion of the transaction, the director now owns 5,678,779 shares of the company’s stock, valued at $187,570,070.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 5,678,779 shares of the company’s stock, valued at approximately $187,570,070.37. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Louis Lambert sold 5,679 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $36.04, for a total value of $204,671.16. Following the transaction, the senior vice president now owns 2,421 shares in the company, valued at approximately $87,252.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,358 shares of company stock valued at $11,653,157. 16.40% of the stock is owned by company insiders.

APi Group Company Profile

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.