Apollo Global Management, LLC (APO) Lifted to “Buy” at Zacks Investment Research
Apollo Global Management, LLC (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $34.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.28% from the company’s previous close.
According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “
APO has been the topic of a number of other research reports. Deutsche Bank AG raised their price objective on Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and issued a $34.00 price objective on shares of Apollo Global Management in a report on Tuesday, September 26th. Morgan Stanley restated an “equal weight” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Apollo Global Management in a report on Monday, July 10th. UBS AG restated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Apollo Global Management in a report on Friday, August 4th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $33.00 price objective on shares of Apollo Global Management in a report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.59.
Shares of Apollo Global Management (APO) traded up 0.88% during trading on Tuesday, reaching $30.83. 486,896 shares of the company’s stock traded hands. The stock has a market cap of $5.98 billion, a P/E ratio of 12.08 and a beta of 1.20. Apollo Global Management has a one year low of $17.38 and a one year high of $31.69. The company has a 50 day moving average price of $29.68 and a 200-day moving average price of $27.70.
Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The business had revenue of $432.87 million for the quarter, compared to analysts’ expectations of $455.29 million. During the same quarter last year, the business earned $0.98 EPS. The company’s quarterly revenue was down 34.5% on a year-over-year basis. On average, equities research analysts expect that Apollo Global Management will post $2.48 EPS for the current fiscal year.
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In other Apollo Global Management news, Director Robert K. Kraft acquired 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $28.88 per share, with a total value of $866,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc acquired 249,968 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were acquired at an average cost of $27.68 per share, with a total value of $6,919,114.24. The disclosure for this purchase can be found here. Insiders acquired a total of 1,399,918 shares of company stock valued at $39,210,819 over the last ninety days. Corporate insiders own 4.11% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Apollo Global Management by 20.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,279 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 4,460 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Apollo Global Management during the 2nd quarter valued at about $455,000. Arrowstreet Capital Limited Partnership purchased a new position in Apollo Global Management during the 2nd quarter valued at about $1,810,000. Janus Henderson Group PLC purchased a new position in Apollo Global Management during the 2nd quarter valued at about $15,887,000. Finally, Capital World Investors boosted its holdings in Apollo Global Management by 16.5% during the 2nd quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock valued at $202,335,000 after acquiring an additional 1,082,313 shares during the period. 73.58% of the stock is owned by hedge funds and other institutional investors.
Apollo Global Management Company Profile
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.
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