Spyglass Capital Management LLC Has $60.57 Million Position in APi Group Co. (NYSE:APG)

Spyglass Capital Management LLC grew its stake in APi Group Co. (NYSE:APG) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,834,189 shares of the company’s stock after buying an additional 75,622 shares during the period. APi Group accounts for about 4.0% of Spyglass Capital Management LLC’s holdings, making the stock its 11th biggest holding. Spyglass Capital Management LLC’s holdings in APi Group were worth $60,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cooke & Bieler LP increased its position in APi Group by 218.9% during the 2nd quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock valued at $108,545,000 after purchasing an additional 1,979,931 shares during the period. Millennium Management LLC bought a new stake in shares of APi Group in the 2nd quarter valued at $67,412,000. Artemis Investment Management LLP raised its stake in APi Group by 65.8% during the second quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock worth $95,707,000 after buying an additional 1,009,328 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in APi Group by 382.6% in the second quarter. Point72 Asset Management L.P. now owns 1,064,395 shares of the company’s stock valued at $40,053,000 after buying an additional 843,826 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in APi Group by 412.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,044,034 shares of the company’s stock valued at $34,474,000 after buying an additional 840,452 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APG has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays increased their price target on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of APi Group in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

APi Group Price Performance

APi Group stock opened at $37.55 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average price is $34.61 and its two-hundred day moving average price is $35.56. APi Group Co. has a 1-year low of $29.75 and a 1-year high of $39.98.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.87 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. Research analysts expect that APi Group Co. will post 1.86 EPS for the current year.

Insider Buying and Selling

In other news, Director Ian G. H. Ashken sold 53,868 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the sale, the director now owns 5,478,779 shares in the company, valued at $202,002,581.73. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the transaction, the director now owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. 18.20% of the stock is owned by insiders.

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.