Kerrisdale Advisers LLC Invests $1.39 Million in APi Group Corporation $APG

Kerrisdale Advisers LLC bought a new stake in APi Group Corporation (NYSE:APG) during the second quarter, HoldingsChannel.com reports. The fund bought 32,770 shares of the company’s stock, valued at approximately $1,388,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in APi Group by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company’s stock valued at $946,846,000 after purchasing an additional 250,873 shares in the last quarter. Durable Capital Partners LP grew its stake in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after buying an additional 4,274,610 shares in the last quarter. Viking Global Investors LP lifted its position in APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after acquiring an additional 768,759 shares in the last quarter. State Street Corp boosted its holdings in APi Group by 0.8% in the 4th quarter. State Street Corp now owns 10,863,164 shares of the company’s stock worth $415,625,000 after acquiring an additional 91,388 shares during the period. Finally, Geode Capital Management LLC grew its position in APi Group by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company’s stock valued at $277,465,000 after acquiring an additional 624,529 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at APi Group

In related news, Director James E. Lillie sold 285,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.84, for a total transaction of $11,354,400.00. Following the sale, the director owned 8,952,350 shares in the company, valued at $356,661,624. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,667,000 shares of company stock worth $110,810,972 in the last quarter. 18.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APG. Wall Street Zen cut shares of APi Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Wells Fargo & Company began coverage on shares of APi Group in a research note on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. UBS Group set a $52.00 price objective on shares of APi Group in a research report on Monday, July 20th. Finally, Citigroup reaffirmed a “buy” rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.57.

APi Group Stock Performance

APG stock opened at $39.70 on Monday. The stock’s 50 day simple moving average is $41.28 and its 200 day simple moving average is $42.62. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The firm has a market cap of $17.16 billion, a P/E ratio of -59.25, a P/E/G ratio of 2.31 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last released its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities research analysts predict that APi Group Corporation will post 1.72 EPS for the current year.

APi Group Profile

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.