Apollo Global Management LLC (NYSE:APO) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc reduced its position in Apollo Global Management LLC (NYSE:APO) by 0.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 52,400 shares of the financial services provider’s stock after selling 325 shares during the quarter. Morse Asset Management Inc’s holdings in Apollo Global Management were worth $1,982,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in APO. Arlington Partners LLC acquired a new position in Apollo Global Management in the 2nd quarter valued at $34,000. Heritage Wealth Advisors increased its stake in Apollo Global Management by 100.0% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the financial services provider’s stock valued at $37,000 after buying an additional 500 shares during the period. NEXT Financial Group Inc acquired a new position in Apollo Global Management in the 2nd quarter valued at $54,000. Boston Partners acquired a new position in Apollo Global Management in the 2nd quarter valued at $125,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Apollo Global Management in the 3rd quarter valued at $163,000. 72.93% of the stock is currently owned by institutional investors.

In related news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $39.96, for a total value of $159,840.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 46.90% of the stock is owned by insiders.

Shares of NYSE:APO traded up $0.16 on Monday, reaching $42.43. 1,626,466 shares of the company were exchanged, compared to its average volume of 1,571,708. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.24. Apollo Global Management LLC has a 1-year low of $22.63 and a 1-year high of $44.18. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of -202.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The company has a 50-day moving average of $40.08 and a 200-day moving average of $35.76.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). The firm had revenue of $401.38 million for the quarter, compared to analyst estimates of $404.24 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. As a group, analysts forecast that Apollo Global Management LLC will post 2.33 earnings per share for the current year.

APO has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Monday, October 7th. They issued an “outperform” rating and a $52.00 price objective on the stock. UBS Group upped their price target on shares of Apollo Global Management from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Co upped their price target on shares of Apollo Global Management from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $54.00 price target (up from $45.00) on shares of Apollo Global Management in a research note on Tuesday, November 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $53.00 price target (up from $49.00) on shares of Apollo Global Management in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $45.25.

Apollo Global Management Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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