Apollo Global Management LLC (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $21.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 12.66% from the company’s previous close.
According to Zacks, “Apollo Management, L.P. operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York. “
Other equities analysts have also recently issued research reports about the company. Vetr cut Apollo Global Management from a “strong-buy” rating to a “buy” rating and set a $20.72 target price for the company. in a report on Thursday, October 6th. TheStreet raised Apollo Global Management from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Argus increased their target price on Apollo Global Management from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 12th. JMP Securities reissued a “buy” rating and set a $26.00 target price on shares of Apollo Global Management in a report on Thursday, July 7th. Finally, Jefferies Group increased their target price on Apollo Global Management from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $20.38.
Shares of Apollo Global Management (NYSE:APO) traded down 0.85% during mid-day trading on Tuesday, reaching $18.64. The company had a trading volume of 679,902 shares. Apollo Global Management has a 52 week low of $12.35 and a 52 week high of $19.18. The stock has a 50 day moving average of $18.30 and a 200-day moving average of $17.04. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 19.38 and a beta of 1.77.
Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.19. The firm had revenue of $351.73 million for the quarter, compared to analyst estimates of $350.06 million. During the same period in the previous year, the company earned $0.38 EPS. Apollo Global Management’s revenue was up 87.8% compared to the same quarter last year. On average, analysts expect that Apollo Global Management will post ($0.74) earnings per share for the current fiscal year.
In other news, insider Marc J. Rowan sold 565,519 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $18.62, for a total transaction of $10,529,963.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pauline Richards purchased 1,800 shares of the stock in a transaction dated Friday, August 5th. The shares were purchased at an average price of $18.41 per share, with a total value of $33,138.00. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coronation Fund Managers Ltd. bought a new position in Apollo Global Management during the second quarter worth about $43,434,000. Beck Mack & Oliver LLC raised its position in Apollo Global Management by 20.6% in the second quarter. Beck Mack & Oliver LLC now owns 2,560,558 shares of the company’s stock worth $38,793,000 after buying an additional 437,561 shares during the period. JPMorgan Chase & Co. raised its position in Apollo Global Management by 31.9% in the second quarter. JPMorgan Chase & Co. now owns 1,356,471 shares of the company’s stock worth $20,552,000 after buying an additional 327,843 shares during the period. Evercore Wealth Management LLC raised its position in Apollo Global Management by 1.2% in the second quarter. Evercore Wealth Management LLC now owns 1,202,848 shares of the company’s stock worth $18,223,000 after buying an additional 13,705 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Apollo Global Management by 4.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 914,738 shares of the company’s stock worth $13,858,000 after buying an additional 37,988 shares during the period.
About Apollo Global Management
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company operates through three segments: Private equity, Credit and Real estate.
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