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 Monday.

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. “

A number of other equities analysts have also recently commented on APO. Morgan Stanley lifted their price target on Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. JMP Securities restated an “outperform” rating and set a $32.00 price objective on shares of Apollo Global Management in a report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $34.00 price objective on shares of Apollo Global Management in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. boosted their price objective on Apollo Global Management from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Finally, BidaskClub upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.50.

Shares of Apollo Global Management (NYSE APO) traded up 0.37% during mid-day trading on Monday, reaching $32.15. The company had a trading volume of 1,473,633 shares. Apollo Global Management has a 12 month low of $17.62 and a 12 month high of $32.47. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 12.59 and a beta of 1.20. The firm’s 50-day moving average is $30.19 and its 200 day moving average is $28.08.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The business had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 34.5% on a year-over-year basis. On average, equities research analysts predict that Apollo Global Management will post $2.50 earnings per share for the current year.

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In other Apollo Global Management news, insider John J. Suydam sold 53,383 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $29.07, for a total transaction of $1,551,843.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director A B. Krongard acquired 1,000 shares of the stock in a transaction on Monday, August 28th. The shares were purchased at an average price 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 quarter, insiders purchased 787,605 shares of company stock valued at $22,228,931. 4.11% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. raised its position in Apollo Global Management by 0.3% during the second quarter. Alps Advisors Inc. now owns 20,534 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 53 shares in the last quarter. Veritable L.P. raised its position in Apollo Global Management by 1.4% during the second quarter. Veritable L.P. now owns 13,037 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 182 shares in the last quarter. Wedbush Securities Inc. raised its position in Apollo Global Management by 5.7% during the second quarter. Wedbush Securities Inc. now owns 9,280 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 500 shares in the last quarter. HighTower Advisors LLC raised its position in Apollo Global Management by 0.8% during the first quarter. HighTower Advisors LLC now owns 68,399 shares of the financial services provider’s stock valued at $1,666,000 after purchasing an additional 549 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Apollo Global Management by 10.0% during the second quarter. Penserra Capital Management LLC now owns 6,479 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 589 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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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