TimesSquare Capital Management LLC Sells 737,625 Shares of Apollo Global Management LLC (NYSE:APO)

TimesSquare Capital Management LLC lowered its position in Apollo Global Management LLC (NYSE:APO) by 19.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,096,350 shares of the financial services provider’s stock after selling 737,625 shares during the quarter. Apollo Global Management comprises approximately 1.0% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. TimesSquare Capital Management LLC’s holdings in Apollo Global Management were worth $117,104,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Morgan Stanley grew its stake in Apollo Global Management by 19.6% in the second quarter. Morgan Stanley now owns 8,166,139 shares of the financial services provider’s stock worth $280,099,000 after purchasing an additional 1,338,115 shares in the last quarter. Janus Henderson Group PLC grew its stake in Apollo Global Management by 387.3% in the second quarter. Janus Henderson Group PLC now owns 3,675,355 shares of the financial services provider’s stock worth $126,065,000 after purchasing an additional 2,921,103 shares in the last quarter. Invesco Ltd. grew its stake in Apollo Global Management by 755.9% in the second quarter. Invesco Ltd. now owns 1,708,708 shares of the financial services provider’s stock worth $58,609,000 after purchasing an additional 1,509,059 shares in the last quarter. Markel Corp grew its stake in Apollo Global Management by 2.2% in the second quarter. Markel Corp now owns 1,012,500 shares of the financial services provider’s stock worth $34,729,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Apollo Global Management by 461.1% in the second quarter. Wells Fargo & Company MN now owns 1,012,332 shares of the financial services provider’s stock worth $34,723,000 after purchasing an additional 831,898 shares in the last quarter. 72.97% of the stock is currently owned by institutional investors.

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.96, for a total transaction of $159,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 46.90% of the company’s stock.

NYSE APO traded up $0.47 during midday trading on Tuesday, hitting $42.90. 1,763,287 shares of the company traded hands, compared to its average volume of 1,572,988. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $8.49 billion, a PE ratio of -204.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.51. The company’s 50-day simple moving average is $40.15 and its 200-day simple moving average is $35.86. Apollo Global Management LLC has a 52 week low of $22.63 and a 52 week high of $44.18.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). The business had revenue of $401.38 million during the quarter, compared to analyst estimates of $404.24 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, research analysts predict that Apollo Global Management LLC will post 2.34 earnings per share for the current year.

Several analysts have issued reports on the company. Oppenheimer set a $47.00 target price on Apollo Global Management and gave the company a “buy” rating in a research report on Friday, November 1st. ValuEngine cut Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America increased their target price on Apollo Global Management from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $54.00 target price (up previously from $45.00) on shares of Apollo Global Management in a research report on Tuesday, November 5th. Finally, BMO Capital Markets assumed coverage on Apollo Global Management in a research report on Monday, October 7th. They set an “outperform” rating and a $52.00 target price on the stock. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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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