Apollo Global Management, LLC (NYSE:APO)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a note issued to investors on Thursday. They presently have a $30.00 price objective on the financial services provider’s stock, up from their prior price objective of $28.00. Morgan Stanley’s target price would indicate a potential downside of 1.77% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Apollo Global Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) upped their price objective on shares of Apollo Global Management from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $33.00 price objective on shares of Apollo Global Management in a research report on Friday, July 14th. BidaskClub cut shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.29.

Apollo Global Management (NYSE:APO) traded up 0.59% during midday trading on Thursday, hitting $30.72. 197,099 shares of the stock were exchanged. Apollo Global Management has a 1-year low of $17.38 and a 1-year high of $31.69. The company’s 50 day moving average is $29.55 and its 200 day moving average is $27.49. The company has a market capitalization of $5.96 billion, a P/E ratio of 12.03 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). The company had revenue of $432.87 million during the quarter, compared to the consensus estimate of $455.29 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The firm’s revenue for the quarter was down 34.5% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Analysts predict that Apollo Global Management will post $2.47 earnings per share for the current fiscal year.

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In related news, major shareholder Tiger Global Management Llc acquired 249,968 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was purchased at an average price of $27.68 per share, with a total value of $6,919,114.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Kraft acquired 30,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average cost of $28.88 per share, with a total value of $866,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,399,918 shares of company stock valued at $39,210,819. 4.11% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Apollo Global Management by 4,656.1% during the second quarter. BNP Paribas Arbitrage SA now owns 65,491 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 64,114 shares during the period. WESPAC Advisors LLC boosted its stake in shares of Apollo Global Management by 74.2% during the second quarter. WESPAC Advisors LLC now owns 50,939 shares of the financial services provider’s stock valued at $1,347,000 after purchasing an additional 21,691 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Apollo Global Management by 231.6% during the first quarter. Oppenheimer & Co. Inc. now owns 96,491 shares of the financial services provider’s stock valued at $2,347,000 after purchasing an additional 67,388 shares during the period. Apriem Advisors purchased a new stake in shares of Apollo Global Management during the second quarter valued at approximately $733,000. Finally, Rothschild Investment Corp IL purchased a new stake in shares of Apollo Global Management during the second quarter valued at approximately $2,157,000. 73.58% of the stock is owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Analyst Recommendations for Apollo Global Management (NYSE:APO)

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