Moors & Cabot Inc. Buys 400 Shares of Apollo Global Management Inc. (NYSE:APO)

Moors & Cabot Inc. increased its holdings in Apollo Global Management Inc. (NYSE:APO) by 3.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 12,626 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Moors & Cabot Inc.’s holdings in Apollo Global Management were worth $1,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $25,000. GW&K Investment Management LLC raised its position in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC raised its position in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock worth $32,000 after buying an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Apollo Global Management in the first quarter worth $39,000. Finally, Meeder Asset Management Inc. raised its position in shares of Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock worth $43,000 after buying an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 4.8%

APO opened at $138.30 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market cap of $79.04 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.64 and a beta of 1.59. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The business’s 50-day moving average price is $140.63 and its 200-day moving average price is $142.39.

Apollo Global Management (NYSE:APO) last posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 earnings per share. On average, equities analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays increased their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Raymond James Financial initiated coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target on the stock. Cowen restated a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. Finally, UBS Group lowered their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.00.

Insider Activity

In related news, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer directly owned 373,164 shares of the company’s stock, valued at $49,470,351.48. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is owned by insiders.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.