Gambit Capital Management LLC Acquires Shares of 24,353 APi Group Corporation $APG

Gambit Capital Management LLC bought a new position in APi Group Corporation (NYSE:APG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,353 shares of the company’s stock, valued at approximately $932,000.

A number of other large investors also recently modified their holdings of APG. Arizona State Retirement System increased its holdings in shares of APi Group by 0.3% in the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock valued at $3,772,000 after purchasing an additional 277 shares in the last quarter. Silicon Valley Capital Partners lifted its holdings in APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after buying an additional 286 shares in the last quarter. Parallel Advisors LLC lifted its holdings in APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in APi Group by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company’s stock valued at $3,169,000 after buying an additional 314 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in shares of APi Group by 4.7% in the 4th quarter. Wedmont Private Capital now owns 7,655 shares of the company’s stock valued at $314,000 after buying an additional 343 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on APG shares. Citigroup reaffirmed a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. UBS Group boosted their price objective on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Barclays reaffirmed an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Truist Financial set a $55.00 price target on shares of APi Group and gave the stock a “buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.14.

APi Group Trading Down 2.3%

NYSE:APG opened at $42.26 on Tuesday. APi Group Corporation has a 1-year low of $30.00 and a 1-year high of $49.99. The business’s 50-day moving average price is $43.69 and its two-hundred day moving average price is $41.62. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of -59.52, a PEG ratio of 2.54 and a beta of 1.67.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. On average, equities analysts expect that APi Group Corporation will post 1.7 earnings per share for the current year.

Insider Activity at APi Group

In other news, Director Ian G. H. Ashken sold 1,018,466 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares of the company’s stock, valued at $426,850,249.14. The trade was a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the completion of the sale, the director owned 9,296,811 shares of the company’s stock, valued at approximately $417,147,909.57. This represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,126,000 shares of company stock worth $217,071,030. 18.70% of the stock is currently owned by company insiders.

About APi Group

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.