Short Interest in APi Group Co. (NYSE:APG) Rises By 47.1%

APi Group Co. (NYSE:APG) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 4,310,000 shares, an increase of 47.1% from the February 13th total of 2,930,000 shares. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is currently 2.7 days. Approximately 2.9% of the company’s stock are sold short.

APi Group Stock Performance

APi Group stock traded up $0.35 on Monday, reaching $37.52. 880,409 shares of the stock were exchanged, compared to its average volume of 1,637,535. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group has a twelve month low of $31.44 and a twelve month high of $41.31. The firm has a fifty day moving average price of $37.69 and a two-hundred day moving average price of $36.16. The stock has a market cap of $10.41 billion, a PE ratio of -19.04 and a beta of 1.54.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on APG shares. Truist Financial reaffirmed a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. William Blair restated an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Citigroup decreased their price objective on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group cut their target price on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Robert W. Baird upped their price target on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.43.

Insider Activity

In other news, Director James E. Lillie sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the sale, the director now directly owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

Several large investors have recently made changes to their positions in APG. First Horizon Advisors Inc. bought a new position in APi Group in the 3rd quarter worth approximately $26,000. Blue Trust Inc. grew its stake in shares of APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the last quarter. Avior Wealth Management LLC bought a new position in APi Group during the third quarter worth $33,000. ORG Wealth Partners LLC acquired a new position in APi Group during the 4th quarter valued at $34,000. Finally, Strategic Financial Concepts LLC boosted its holdings in APi Group by 2,058.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock valued at $82,000 after purchasing an additional 217,071 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.