Two Sigma Advisers LP Acquires 402,100 Shares of APi Group Co. (NYSE:APG)

Two Sigma Advisers LP lifted its holdings in APi Group Co. (NYSE:APG) by 44.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,296,700 shares of the company’s stock after buying an additional 402,100 shares during the period. Two Sigma Advisers LP’s holdings in APi Group were worth $46,642,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of APi Group by 15.6% in the 4th quarter. Tidal Investments LLC now owns 63,064 shares of the company’s stock worth $2,268,000 after acquiring an additional 8,511 shares during the last quarter. Sycale Advisors NY LLC bought a new stake in shares of APi Group in the 4th quarter worth approximately $15,634,000. Tema Etfs LLC bought a new stake in shares of APi Group in the 4th quarter worth approximately $4,650,000. Redwood Investment Management LLC bought a new stake in shares of APi Group in the 4th quarter worth approximately $1,425,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of APi Group by 187.8% in the 4th quarter. Point72 Asset Management L.P. now owns 215,544 shares of the company’s stock worth $7,753,000 after acquiring an additional 140,644 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors.

APi Group Stock Up 0.2%

Shares of NYSE APG opened at $46.01 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group Co. has a 12 month low of $30.76 and a 12 month high of $46.18. The firm has a market capitalization of $12.74 billion, a PE ratio of -23.36 and a beta of 1.54. The firm has a fifty day simple moving average of $37.95 and a two-hundred day simple moving average of $37.60.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts expect that APi Group Co. will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APG shares. Robert W. Baird boosted their price objective on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Citigroup dropped their price target on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, April 14th. UBS Group dropped their price target on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of APi Group from $39.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Truist Financial reissued a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and an average price target of $45.57.

Insiders Place Their Bets

In related news, Director James E. Lillie sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the transaction, the director now directly owns 1,046,203 shares in the company, valued at $39,724,327.91. This trade represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the completion of the transaction, the director now owns 5,612,102 shares of the company’s stock, valued at approximately $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.