Cacti Asset Management LLC trimmed its position in Apollo Global Management LLC (NYSE:APO) by 9.0% in the second quarter, Holdings Channel.com reports. The fund owned 30,500 shares of the financial services provider’s stock after selling 3,000 shares during the period. Cacti Asset Management LLC’s holdings in Apollo Global Management were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of APO. Great West Life Assurance Co. Can increased its holdings in shares of Apollo Global Management by 10.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 30,561 shares of the financial services provider’s stock valued at $724,000 after acquiring an additional 2,870 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Apollo Global Management by 26.6% during the 4th quarter. Hsbc Holdings PLC now owns 22,424 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 4,706 shares during the period. Stifel Financial Corp boosted its stake in Apollo Global Management by 31.3% during the 4th quarter. Stifel Financial Corp now owns 27,098 shares of the financial services provider’s stock valued at $663,000 after purchasing an additional 6,460 shares during the period. Two Sigma Investments LP lifted its position in shares of Apollo Global Management by 4.6% in the 4th quarter. Two Sigma Investments LP now owns 39,287 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 1,733 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $415,000. Institutional investors and hedge funds own 73.41% of the company’s stock.
APO stock traded up $0.02 during midday trading on Tuesday, reaching $35.17. 1,016,693 shares of the company’s stock traded hands, compared to its average volume of 1,010,756. The business has a 50-day moving average of $34.08. Apollo Global Management LLC has a 1-year low of $22.63 and a 1-year high of $36.49. The stock has a market cap of $7.03 billion, a P/E ratio of -167.48, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.07.
Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.11). The firm had revenue of $677.78 million during the quarter, compared to the consensus estimate of $695.30 million. The business’s revenue for the quarter was up 306.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) earnings per share. On average, sell-side analysts anticipate that Apollo Global Management LLC will post 2.41 earnings per share for the current fiscal year.
A number of analysts have commented on APO shares. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Co raised their price objective on Apollo Global Management from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. JMP Securities raised their price objective on Apollo Global Management from $36.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Finally, TheStreet downgraded Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $39.00.
In related news, Director A B. Krongard acquired 1,790 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $32.41 per share, with a total value of $58,013.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 49.50% of the stock is owned by insiders.
Apollo Global Management Company Profile
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.
Recommended Story: How do CD ladders protect against rising interest rates?
Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management LLC (NYSE:APO).
Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.