Weiss Asset Management LP Purchases Shares of 28,154 APi Group Co. (NYSE:APG)

Weiss Asset Management LP purchased a new stake in shares of APi Group Co. (NYSE:APG) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 28,154 shares of the company’s stock, valued at approximately $930,000.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. bought a new position in APi Group during the 3rd quarter worth $26,000. Avior Wealth Management LLC bought a new position in shares of APi Group during the third quarter worth about $33,000. J.Safra Asset Management Corp lifted its stake in shares of APi Group by 21.5% in the second 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 period. Triad Wealth Partners LLC acquired a new position in shares of APi Group in the second quarter worth approximately $132,000. Finally, Strategic Financial Concepts LLC boosted its holdings in APi Group by 3,622.0% in the second quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock valued at $148,000 after acquiring an additional 382,012 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG opened at $38.60 on Monday. APi Group Co. has a one year low of $30.15 and a one year high of $40.89. The company has a market cap of $10.61 billion, a PE ratio of -19.59 and a beta of 1.55. The stock has a 50-day moving average of $35.11 and a 200-day moving average of $35.61. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

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

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the sale, the director now owns 5,478,779 shares in the company, valued at $202,002,581.73. This represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James E. Lillie sold 11,568 shares of APi Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the transaction, the director now owns 1,134,635 shares of the company’s stock, valued at $41,958,802.30. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on APG shares. Robert W. Baird boosted their price target on shares of APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Barclays boosted their target price on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target on shares of APi Group in a report on Friday, November 1st. Finally, William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

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.