ValuEngine Downgrades Apollo Global Management (APO) to Hold

Apollo Global Management (NYSE:APO) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other equities research analysts have also commented on APO. Morgan Stanley raised their price target on Apollo Global Management from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Oppenheimer raised their price target on Apollo Global Management from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Credit Suisse Group increased their price objective on Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, September 21st. Finally, Goldman Sachs Group upgraded Apollo Global Management from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 1st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Apollo Global Management currently has an average rating of “Buy” and an average target price of $39.20.

NYSE APO opened at $29.49 on Thursday. The stock has a market cap of $6.39 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.13 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.60. Apollo Global Management has a one year low of $28.00 and a one year high of $37.35.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.27). The business had revenue of $449.71 million for the quarter, compared to analyst estimates of $608.66 million. Apollo Global Management had a return on equity of 48.19% and a net margin of 19.59%. During the same period in the prior year, the business earned $0.46 EPS. Research analysts anticipate that Apollo Global Management will post 1.49 earnings per share for the current fiscal year.

In other news, Director Pauline Richards acquired 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average cost of $35.78 per share, for a total transaction of $39,358.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joshua Harris sold 30,381 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $35.28, for a total value of $1,071,841.68. The disclosure for this sale can be found here. 4.11% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Centaurus Financial Inc. bought a new position in shares of Apollo Global Management during the second quarter worth about $139,000. Morgan Stanley grew its stake in Apollo Global Management by 15.4% in the second quarter. Morgan Stanley now owns 5,536,056 shares of the financial services provider’s stock valued at $176,434,000 after purchasing an additional 737,410 shares in the last quarter. Crabel Capital Management LLC bought a new position in Apollo Global Management in the second quarter valued at approximately $19,919,000. FMR LLC grew its stake in Apollo Global Management by 39.2% in the second quarter. FMR LLC now owns 11,247,406 shares of the financial services provider’s stock valued at $358,455,000 after purchasing an additional 3,164,974 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Apollo Global Management in the second quarter valued at approximately $800,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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