Apollo Global Management, Inc. (NYSE:APO – Get Rating) was the recipient of a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 8,580,000 shares, a drop of 5.5% from the December 15th total of 9,080,000 shares. Based on an average daily volume of 2,390,000 shares, the days-to-cover ratio is currently 3.6 days.
Apollo Global Management Price Performance
NYSE:APO opened at $67.70 on Wednesday. Apollo Global Management has a 12-month low of $45.62 and a 12-month high of $71.72. The firm has a market cap of $38.74 billion, a price-to-earnings ratio of -12.00, a price-to-earnings-growth ratio of 0.58 and a beta of 1.72. The company’s 50-day moving average is $65.05 and its two-hundred day moving average is $58.59. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.08.
Apollo Global Management (NYSE:APO – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.14. The business had revenue of $670.50 million for the quarter, compared to the consensus estimate of $621.08 million. Apollo Global Management had a negative net margin of 48.54% and a positive return on equity of 64.38%. Research analysts expect that Apollo Global Management will post 5 EPS for the current year.
Apollo Global Management Dividend Announcement
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on APO shares. Wells Fargo & Company increased their target price on Apollo Global Management from $71.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Credit Suisse Group began coverage on shares of Apollo Global Management in a research report on Tuesday, October 18th. They set an “outperform” rating and a $59.50 target price on the stock. Morgan Stanley increased their price target on shares of Apollo Global Management from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, November 15th. Finally, TheStreet cut shares of Apollo Global Management from a “c” rating to a “d+” rating in a report on Wednesday, November 2nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.45.
Insider Buying and Selling
In other Apollo Global Management news, CFO Martin Kelly sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $64.88, for a total transaction of $1,297,600.00. Following the completion of the transaction, the chief financial officer now owns 431,486 shares in the company, valued at approximately $27,994,811.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 15.40% of the company’s stock.
Hedge Funds Weigh In On Apollo Global Management
Several large investors have recently added to or reduced their stakes in the business. TD Asset Management Inc. raised its stake in Apollo Global Management by 20.2% during the second quarter. TD Asset Management Inc. now owns 70,436 shares of the financial services provider’s stock worth $3,415,000 after purchasing an additional 11,816 shares during the period. Sunflower Bank N.A. raised its position in shares of Apollo Global Management by 14.9% in the 2nd quarter. Sunflower Bank N.A. now owns 6,133 shares of the financial services provider’s stock worth $297,000 after buying an additional 796 shares during the period. Iron Horse Wealth Management LLC acquired a new position in Apollo Global Management in the third quarter valued at $97,000. Poplar Forest Capital LLC grew its position in Apollo Global Management by 6.2% during the second quarter. Poplar Forest Capital LLC now owns 4,686 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 275 shares during the period. Finally, Stone Point Wealth LLC purchased a new position in shares of Apollo Global Management in the 2nd quarter worth about $203,000. 68.98% of the stock is currently owned by hedge funds and other institutional investors.
Apollo Global Management Company Profile
Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
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