Short Interest in APi Group Co. (NYSE:APG) Increases By 47.1%

APi Group Co. (NYSE:APG) was the target of a large growth in short interest in the month of 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. Currently, 2.9% of the shares of the company are sold short. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is presently 2.7 days.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred 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 directly owns 1,046,203 shares in the company, valued at $39,724,327.91. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On APi Group

Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. acquired a new stake in APi Group during the 3rd quarter worth $26,000. Blue Trust Inc. raised its stake in APi Group by 92.3% during the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of APi Group in the 3rd quarter valued at approximately $33,000. ORG Wealth Partners LLC purchased a new position in APi Group in the fourth quarter worth approximately $34,000. Finally, Strategic Financial Concepts LLC raised its position in APi Group by 2,058.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock valued at $82,000 after purchasing an additional 217,071 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Price Performance

Shares of APG stock traded up $1.45 during trading hours on Friday, hitting $37.20. 967,239 shares of the company’s stock were exchanged, compared to its average volume of 1,640,576. The firm has a market cap of $10.33 billion, a P/E ratio of -18.88 and a beta of 1.54. The firm has a 50 day moving average of $37.69 and a two-hundred day moving average of $36.16. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. APi Group has a fifty-two week low of $31.44 and a fifty-two week high of $41.31.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APG. UBS Group cut their price objective 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 objective on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. William Blair reiterated an “outperform” rating on shares of APi Group in a research report on Thursday, December 5th. Robert W. Baird boosted their price objective on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Finally, Truist Financial reissued a “buy” rating and set a $48.00 price target (up from $45.00) on shares of APi Group in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.43.

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.