Apollo Global Management (NYSE:APO) Upgraded to Neutral at Bank of America

Apollo Global Management (NYSE:APOGet Rating) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on APO. Deutsche Bank Aktiengesellschaft reduced their price target on Apollo Global Management from $91.00 to $87.00 in a report on Friday, August 12th. Oppenheimer raised their price target on Apollo Global Management from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Morgan Stanley raised their price target on Apollo Global Management from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 15th. Barclays initiated coverage on Apollo Global Management in a report on Wednesday, August 31st. They issued an “overweight” rating and a $70.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on Apollo Global Management from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.72.

Apollo Global Management Price Performance

APO stock opened at $51.51 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $29.41 billion, a P/E ratio of -16.56, a P/E/G ratio of 0.66 and a beta of 1.64. The business’s 50-day moving average is $56.48 and its two-hundred day moving average is $55.93. Apollo Global Management has a 1 year low of $45.97 and a 1 year high of $81.07.

Apollo Global Management (NYSE:APOGet Rating) last released its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. Apollo Global Management had a positive return on equity of 42.48% and a negative net margin of 44.62%. During the same quarter in the prior year, the firm posted $1.14 EPS. Analysts anticipate that Apollo Global Management will post 5.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Walter Joseph Clayton III purchased 5,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was bought at an average price of $56.07 per share, with a total value of $280,350.00. Following the completion of the transaction, the director now owns 29,737 shares of the company’s stock, valued at approximately $1,667,353.59. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apollo Global Management news, Director Walter Joseph Clayton III acquired 5,000 shares of the stock in a transaction dated Tuesday, August 30th. The stock was acquired at an average price of $56.07 per share, with a total value of $280,350.00. Following the completion of the transaction, the director now directly owns 29,737 shares in the company, valued at $1,667,353.59. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 20,000 shares of Apollo Global Management stock in a transaction on Friday, August 12th. The shares were sold at an average price of $60.86, for a total value of $1,217,200.00. Following the completion of the sale, the chief financial officer now directly owns 484,275 shares of the company’s stock, valued at approximately $29,472,976.50. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

Hedge funds and other institutional investors have recently made changes to their positions in the business. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $25,000. Truvestments Capital LLC purchased a new stake in Apollo Global Management during the second quarter valued at about $26,000. Clearstead Advisors LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at about $27,000. Parkside Financial Bank & Trust grew its position in Apollo Global Management by 7,183.3% during the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 431 shares during the period. Finally, McIlrath & Eck LLC purchased a new stake in Apollo Global Management during the first quarter valued at about $28,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.

About Apollo Global Management

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Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

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