APi Group Co. (NYSE:APG) Sees Large Increase in Short Interest

APi Group Co. (NYSE:APG) was the recipient of a significant increase in short interest in the month of 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. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 1,580,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Tuesday, January 14th. Citigroup cut their target price on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird upped their target price on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. UBS Group cut their target price on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, William Blair reiterated an “outperform” rating on shares of APi Group in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Insider Transactions at APi Group

In related news, Director James E. Lillie sold 50,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the transaction, the director now directly owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.20% of the company’s stock.

Institutional Trading of APi Group

Institutional investors have recently added to or reduced their stakes in the business. Atria Investments Inc boosted its holdings in shares of APi Group by 7.2% during the third quarter. Atria Investments Inc now owns 12,672 shares of the company’s stock worth $418,000 after purchasing an additional 849 shares during the period. Entropy Technologies LP purchased a new stake in shares of APi Group during the third quarter worth about $369,000. GSA Capital Partners LLP purchased a new stake in shares of APi Group during the third quarter worth about $881,000. Aigen Investment Management LP purchased a new stake in shares of APi Group during the third quarter worth about $206,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of APi Group by 60.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 99,647 shares of the company’s stock worth $3,290,000 after purchasing an additional 37,531 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Trading Up 4.1 %

NYSE APG traded up $1.45 during trading on Friday, hitting $37.20. 967,239 shares of the company’s stock traded hands, compared to its average volume of 1,643,014. The stock has a fifty day moving average of $37.69 and a two-hundred day moving average of $36.15. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. APi Group has a 12-month low of $31.44 and a 12-month high of $41.31. The firm has a market cap of $10.33 billion, a P/E ratio of -18.88 and a beta of 1.54.

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.