Hudson Bay Capital Management LP Sells 25,000 Shares of Apollo Global Management, Inc. (NYSE:APO)

Hudson Bay Capital Management LP lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the financial services provider’s stock after selling 25,000 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Apollo Global Management were worth $8,258,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of Apollo Global Management in the 4th quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management in the 4th quarter valued at about $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management in the 4th quarter valued at about $37,000. Retirement Wealth Solutions LLC bought a new position in shares of Apollo Global Management in the 4th quarter valued at about $39,000. Finally, HM Payson & Co. bought a new position in shares of Apollo Global Management in the 4th quarter valued at about $45,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $132.49 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a market capitalization of $75.58 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.17 and a beta of 1.67. The firm’s 50 day moving average is $131.82 and its 200-day moving average is $152.59.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same quarter last year, the business earned $1.72 earnings per share. Apollo Global Management’s revenue for the quarter was down 21.2% on a year-over-year basis. Equities research analysts anticipate that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.51 dividend. The ex-dividend date is Friday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.54%. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

Insider Activity

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 509,000 shares of company stock worth $72,321,680 over the last ninety days. Insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on APO shares. TD Cowen reduced their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Citigroup cut their price target on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler cut their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Barclays increased their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $157.89.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.