APi Group Co. (NYSE:APG) Sees Large Increase in Short Interest

APi Group Co. (NYSE:APG) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 4,310,000 shares, an increase of 47.1% from the February 13th total of 2,930,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is currently 2.7 days.

Insider Activity at APi Group

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

Institutional Investors Weigh In On APi Group

Hedge funds have recently modified their holdings of the stock. Advantage Alpha Capital Partners LP raised its holdings in shares of APi Group by 79.6% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 269,087 shares of the company’s stock worth $8,885,000 after purchasing an additional 119,229 shares during the period. GSA Capital Partners LLP bought a new stake in APi Group during the 3rd quarter valued at $881,000. Dynamic Technology Lab Private Ltd bought a new stake in APi Group during the 3rd quarter valued at $2,586,000. Oppenheimer Asset Management Inc. raised its holdings in APi Group by 60.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 99,647 shares of the company’s stock valued at $3,290,000 after acquiring an additional 37,531 shares during the period. Finally, Quantbot Technologies LP increased its holdings in shares of APi Group by 5,964.3% in the third quarter. Quantbot Technologies LP now owns 159,794 shares of the company’s stock worth $5,276,000 after purchasing an additional 157,159 shares during the period. Institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the subject of several research analyst reports. Citigroup lowered their price objective 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 objective on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Robert W. Baird lifted their price objective on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Finally, Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

APi Group Stock Performance

Shares of NYSE APG traded up $1.45 during midday trading on Friday, reaching $37.20. The company’s stock had a trading volume of 967,239 shares, compared to its average volume of 1,643,014. APi Group has a 12-month low of $31.44 and a 12-month high of $41.31. The firm has a 50 day moving average price of $37.69 and a 200-day moving average price of $36.15. The stock has a market capitalization of $10.33 billion, a P/E ratio of -18.88 and a beta of 1.54. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

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.