Investors Purchase High Volume of Call Options on Apollo Global Management (APO)

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Apollo Global Management LLC (NYSE:APO) was the recipient of unusually large options trading activity on Thursday. Traders acquired 4,568 call options on the company. This represents an increase of 1,056% compared to the average volume of 395 call options.

In other news, Director A B. Krongard bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Tiger Global Management Llc bought 100,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $27.54 per share, for a total transaction of $2,754,000.00. The disclosure for this purchase can be found here. Insiders have purchased 2,056,117 shares of company stock worth $58,704,506 over the last 90 days. 4.11% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in APO. Tower Research Capital LLC TRC raised its stake in shares of Apollo Global Management by 482.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,683 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 3,051 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of Apollo Global Management in the 2nd quarter valued at approximately $139,000. Ancora Advisors LLC purchased a new stake in shares of Apollo Global Management in the 3rd quarter valued at approximately $156,000. Cerebellum GP LLC raised its stake in shares of Apollo Global Management by 1,214.8% in the 3rd quarter. Cerebellum GP LLC now owns 5,154 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 4,762 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in shares of Apollo Global Management in the 3rd quarter valued at approximately $210,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on APO. Zacks Investment Research upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Credit Suisse Group boosted their target price on shares of Apollo Global Management from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, September 21st. Goldman Sachs Group upgraded shares of Apollo Global Management from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 1st. Finally, Morgan Stanley set a $42.00 target price on shares of Apollo Global Management and gave the company a “buy” rating in a report on Tuesday, August 14th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $38.38.

NYSE:APO opened at $26.74 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 2.24 and a beta of 1.24. Apollo Global Management has a 1-year low of $25.65 and a 1-year high of $37.35.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, October 31st. The financial services provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $497.16 million during the quarter, compared to analyst estimates of $596.75 million. Apollo Global Management had a net margin of 19.45% and a return on equity of 43.98%. The business’s revenue for the quarter was down 28.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Equities analysts expect that Apollo Global Management will post 1.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 6.88%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, November 19th. Apollo Global Management’s payout ratio is 51.54%.

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About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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