Short Interest in APi Group Co. (NYSE:APG) Grows By 48.0%

APi Group Co. (NYSE:APG - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 5,120,000 shares, an increase of 48.0% from the October 15th total of 3,460,000 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,510,000 shares, the days-to-cover ratio is currently 3.4 days.

APi Group Trading Down 2.3 %

APG stock traded down $0.84 during mid-day trading on Friday, reaching $35.37. The company's stock had a trading volume of 1,460,103 shares, compared to its average volume of 1,724,933. APi Group has a 12 month low of $28.97 and a 12 month high of $39.98. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The business's 50 day moving average price is $34.11 and its 200 day moving average price is $35.59. The company has a market cap of $9.72 billion, a price-to-earnings ratio of -17.95 and a beta of 1.54.

APi Group (NYSE:APG - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.51. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. APi Group's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. On average, equities research analysts predict that APi Group will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APG. JPMorgan Chase & Co. reduced their price objective on shares of APi Group from $37.00 to $34.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Barclays increased their price target on APi Group from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Robert W. Baird cut their price objective on APi Group from $43.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $45.00 target price on shares of APi Group in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 178,346 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the completion of the transaction, the director now owns 14,267,479 shares in the company, valued at $503,071,309.54. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the sale, the director now directly owns 5,478,779 shares in the company, valued at $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,461 shares of company stock valued at $8,907,049. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On APi Group

A number of institutional investors and hedge funds have recently made changes to their positions in APG. Cetera Advisors LLC raised its stake in APi Group by 1.1% during the 1st quarter. Cetera Advisors LLC now owns 27,242 shares of the company's stock worth $1,070,000 after buying an additional 287 shares during the period. Commonwealth Equity Services LLC raised its position in shares of APi Group by 0.3% during the second quarter. Commonwealth Equity Services LLC now owns 108,711 shares of the company's stock worth $4,091,000 after purchasing an additional 323 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of APi Group by 4.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,071 shares of the company's stock worth $278,000 after purchasing an additional 333 shares in the last quarter. J.Safra Asset Management Corp grew its position in APi Group by 21.5% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,104 shares of the company's stock valued at $79,000 after purchasing an additional 373 shares during the period. Finally, AQR Capital Management LLC increased its stake in APi Group by 2.1% during the 2nd quarter. AQR Capital Management LLC now owns 20,059 shares of the company's stock valued at $755,000 after purchasing an additional 406 shares in the last quarter. Institutional investors own 86.62% of the company's stock.

APi Group Company Profile

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.