AlphaQuest LLC Increases Position in APi Group Corporation $APG

AlphaQuest LLC increased its position in shares of APi Group Corporation (NYSE:APG) by 275.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,397 shares of the company’s stock after purchasing an additional 12,031 shares during the period. AlphaQuest LLC’s holdings in APi Group were worth $564,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in APi Group in the 1st quarter worth $650,000. Goldman Sachs Group Inc. lifted its position in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after acquiring an additional 75,490 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in shares of APi Group in the second quarter worth about $718,000. KLP Kapitalforvaltning AS grew its position in shares of APi Group by 1.2% during the second quarter. KLP Kapitalforvaltning AS now owns 43,000 shares of the company’s stock worth $2,195,000 after purchasing an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of APi Group during the second quarter worth about $226,000. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Down 0.4%

NYSE APG opened at $42.17 on Thursday. The stock has a 50 day moving average price of $40.41 and a 200-day moving average price of $37.14. APi Group Corporation has a one year low of $20.50 and a one year high of $43.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The company has a market capitalization of $17.54 billion, a P/E ratio of 115.01 and a beta of 1.70.

Insider Buying and Selling

In other APi Group news, Director Anthony E. Malkin acquired 3,000 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $277,060. This trade represents a 75.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 7,000 shares of company stock worth $275,720 in the last three months. 17.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APG. Royal Bank Of Canada reissued an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Barclays increased their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Truist Financial boosted their target price on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Finally, CJS Securities raised shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.24.

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.