APi Group Corporation (NYSE:APG) Sees Significant Drop in Short Interest

APi Group Corporation (NYSE:APG) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 7,725,362 shares, a decline of 21.8% from the December 15th total of 9,876,621 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily volume of 1,721,615 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily volume of 1,721,615 shares, the days-to-cover ratio is currently 4.5 days. Approximately 2.2% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Citigroup reissued a “buy” rating and issued a $49.00 price target (up from $45.00) on shares of APi Group in a research note on Monday, January 12th. Barclays increased their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.24.

Insider Activity at APi Group

In other news, Director Anthony E. Malkin purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. This represents a 75.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin E. Franklin sold 340,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director owned 18,968,790 shares in the company, valued at $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 7,000 shares of company stock valued at $275,720 and sold 900,000 shares valued at $32,342,000. Corporate insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of APi Group during the first quarter worth approximately $650,000. Goldman Sachs Group Inc. boosted its stake in APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after purchasing an additional 75,490 shares during the period. Voya Investment Management LLC grew its position in APi Group by 4.6% during the 1st quarter. Voya Investment Management LLC now owns 28,883 shares of the company’s stock worth $1,033,000 after purchasing an additional 1,261 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in APi Group in the second quarter valued at $98,000. Finally, Wedmont Private Capital acquired a new stake in shares of APi Group during the second quarter worth about $368,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Up 0.7%

NYSE:APG traded up $0.29 during trading hours on Monday, hitting $42.83. The company’s stock had a trading volume of 2,370,292 shares, compared to its average volume of 1,935,106. The stock has a market capitalization of $17.81 billion, a P/E ratio of 116.81 and a beta of 1.70. The stock has a fifty day moving average of $39.34 and a 200-day moving average of $36.52. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. APi Group has a 52-week low of $20.50 and a 52-week high of $43.26.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. APi Group’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. On average, equities analysts forecast that APi Group will post 1.83 earnings per share for the current year.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.