APi Group Co. (NYSE:APG) Short Interest Update

APi Group Co. (NYSE:APG - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 4,310,000 shares, a growth of 47.1% from the February 13th total of 2,930,000 shares. Based on an average daily volume of 1,580,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.9% of the company's stock are sold short.

Insider Activity

In other news, Director James E. Lillie sold 50,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the transaction, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.20% of the stock is owned by insiders.

Institutional Trading of APi Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in APi Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,124,584 shares of the company's stock worth $831,791,000 after purchasing an additional 127,038 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of APi Group by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company's stock worth $562,120,000 after acquiring an additional 2,602,758 shares during the period. Capital Research Global Investors lifted its holdings in shares of APi Group by 118.2% during the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock worth $393,774,000 after acquiring an additional 5,931,314 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of APi Group by 19.2% during the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock worth $359,811,000 after acquiring an additional 1,611,744 shares during the period. Finally, Durable Capital Partners LP lifted its holdings in shares of APi Group by 199.8% during the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company's stock worth $180,121,000 after acquiring an additional 3,337,468 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APG. William Blair restated an "outperform" rating on shares of APi Group in a report on Thursday, December 5th. UBS Group cut their price target on shares of APi Group from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Citigroup cut their price target on shares of APi Group from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Truist Financial reiterated a "buy" rating and issued a $48.00 target price (up from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Finally, Robert W. Baird raised their target price on shares of APi Group from $40.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, APi Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.43.

APi Group Stock Performance

NYSE APG traded up $0.71 during midday trading on Wednesday, hitting $37.81. The company had a trading volume of 930,105 shares, compared to its average volume of 1,633,288. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of -19.19 and a beta of 1.54. The firm has a fifty day simple moving average of $37.71 and a two-hundred day simple moving average of $36.18. APi Group has a fifty-two week low of $31.44 and a fifty-two week high of $41.31.

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.