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

APi Group Co. (NYSE:APG) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 2,930,000 shares, a drop of 16.8% from the January 31st total of 3,520,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.9% of the shares of the company are sold short.

Analyst Ratings Changes

APG has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $48.00 price target (up from $45.00) on shares of APi Group in a report on Thursday, February 27th. Citigroup reduced their target price on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group lowered 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. Robert W. Baird raised 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. Finally, Royal Bank of Canada raised shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average price target of $44.00.

APi Group Price Performance

Shares of NYSE APG traded down $0.91 during mid-day trading on Friday, hitting $35.17. 744,055 shares of the stock were exchanged, compared to its average volume of 1,619,855. The company has a market cap of $9.76 billion, a P/E ratio of -17.85 and a beta of 1.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51. APi Group has a twelve month low of $31.44 and a twelve month high of $41.31. The stock’s fifty day simple moving average is $37.65 and its two-hundred day simple moving average is $36.09.

Insider Buying and Selling at APi Group

In other news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the sale, the director now directly owns 1,046,203 shares of the company’s stock, valued at approximately $39,724,327.91. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On APi Group

Institutional investors have recently bought and sold shares of the business. Equitable Trust Co. increased its stake in shares of APi Group by 1.7% in the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock valued at $744,000 after buying an additional 351 shares in the last quarter. CIBC Asset Management Inc increased its position in APi Group by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock valued at $265,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. increased its position in APi Group by 92.3% in the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of APi Group by 3.9% in the fourth quarter. EntryPoint Capital LLC now owns 10,435 shares of the company’s stock worth $375,000 after acquiring an additional 389 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of APi Group by 53.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock worth $43,000 after purchasing an additional 414 shares in the last quarter. Institutional investors own 86.62% 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.