Adalta Capital Management LLC cut its stake in Apollo Global Management, LLC (NYSE:APO) by 46.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,500 shares of the financial services provider’s stock after selling 7,500 shares during the period. Adalta Capital Management LLC’s holdings in Apollo Global Management were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alps Advisors Inc. boosted its stake in Apollo Global Management by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,534 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 53 shares during the period. Veritable L.P. boosted its stake in Apollo Global Management by 1.4% in the 2nd quarter. Veritable L.P. now owns 13,037 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 182 shares during the period. Wedbush Securities Inc. boosted its stake in Apollo Global Management by 5.7% in the 2nd quarter. Wedbush Securities Inc. now owns 9,280 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 500 shares during the period. HighTower Advisors LLC boosted its stake in Apollo Global Management by 0.8% in the 1st quarter. HighTower Advisors LLC now owns 68,399 shares of the financial services provider’s stock worth $1,666,000 after purchasing an additional 549 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in Apollo Global Management by 10.0% in the 2nd quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 589 shares during the period. 73.58% of the stock is owned by hedge funds and other institutional investors.

APO has been the subject of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of Apollo Global Management in a research note on Friday, June 30th. Oppenheimer Holdings, Inc. upped their target price on shares of Apollo Global Management from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. BidaskClub raised shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. JMP Securities reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Apollo Global Management in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Apollo Global Management has an average rating of “Buy” and an average target price of $30.50.

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Apollo Global Management, LLC (APO) traded up 0.94% during trading on Friday, hitting $31.13. 535,263 shares of the stock were exchanged. The firm’s 50-day moving average is $29.82 and its 200 day moving average is $27.80. Apollo Global Management, LLC has a 52 week low of $17.38 and a 52 week high of $31.69. The firm has a market cap of $6.04 billion, a PE ratio of 12.19 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The company’s revenue was down 34.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. Analysts expect that Apollo Global Management, LLC will post $2.50 earnings per share for the current fiscal year.

In other news, Director Robert K. Kraft purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $28.88 per share, for a total transaction of $866,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tiger Global Management Llc purchased 253,672 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average price of $28.48 per share, for a total transaction of $7,224,578.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,399,918 shares of company stock worth $39,210,819. 4.11% of the stock is owned by corporate insiders.

Apollo Global Management Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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

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