Apollo Global Management LLC (NYSE:APO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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 subject of a number of other reports. Deutsche Bank AG increased their price target on Apollo Global Management from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Apollo Global Management in a research note on Tuesday, September 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 price target (up from $25.00) on shares of Apollo Global Management in a research note on Monday, July 10th. UBS AG reaffirmed a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Apollo Global Management in a research note on Friday, August 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $35.00 price target on shares of Apollo Global Management in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $29.75.

Apollo Global Management (NYSE APO) traded down 0.23% during mid-day trading on Thursday, reaching $30.84. The company’s stock had a trading volume of 411,002 shares. The firm’s 50 day moving average price is $29.72 and its 200 day moving average price is $27.73. Apollo Global Management has a 52 week low of $17.38 and a 52 week high of $31.69. The firm has a market capitalization of $5.98 billion, a P/E ratio of 12.08 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Apollo Global Management had a net margin of 44.57% and a return on equity of 35.86%. The business had revenue of $432.87 million during the quarter, compared to analyst estimates of $455.29 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s revenue was down 34.5% compared to the same quarter last year. On average, analysts anticipate that Apollo Global Management will post $2.49 EPS for the current fiscal year.

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In related news, major shareholder Tiger Global Management Llc acquired 261,429 shares of Apollo Global Management stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $27.93 per share, with a total value of $7,301,711.97. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director A B. Krongard acquired 1,000 shares of Apollo Global Management stock in a transaction dated Monday, August 28th. The shares were bought at an average cost of $29.28 per share, with a total value of $29,280.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,399,918 shares of company stock valued at $39,210,819. Corporate insiders own 4.11% of the company’s stock.

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

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.

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