The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. APi Group Corporation shares valued at $364,644 were purchased by MALKIN ANTHONY E on Jun 17. At $14.47 per share, MALKIN ANTHONY E acquired 25,200 shares. The insider’s holdings grew to 18,900 shares worth approximately $0.32 million following the completion of this transaction.
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Also, MALKIN ANTHONY E purchased 12,600 shares, netting a total of over 182,322 in proceeds. Following the buying of shares at $14.47 each, the insider now holds 34,396 shares.
Before that, Becker Russell A. had added 112 shares to its account. In a trade valued at $2,486, the PRESIDENT AND CEO bought APi Group Corporation shares for $22.20 each. Upon closing the transaction, the insider’s holdings increased to 112 shares, worth approximately $13779.64.
As published in a research note from BofA Securities on July 11, 2022, APi Group Corporation [APG] has been rated up from a Neutral to a Buy and the price target has been revised to $23. This represents a 26.22% premium over Thursday’s closing price. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid June. As of March 25, 2022, RBC Capital Mkts has initiated its “Sector perform” rating for APG. Earlier on March 22, 2022, BofA Securities initiated its rating. Their recommendation was “a Neutral” for APG stock.
Analyzing APG’s Price Performance
On Thursday, APi Group Corporation [NYSE: APG] plunged -7.22% to $16.97. The stock’s lowest price that day was $16.74, but it reached a high of $18.22 in the same session. During the last five days, there has been a drop of approximately -2.75%. Over the course of the year, APi Group Corporation shares have dropped approximately -34.15%. Shares of the company reached a 52-week high of $26.84 on 01/04/22 and a 52-week low of $14.13 on 06/22/22. A 50-day SMA is recorded $16.31, while a 200-day SMA reached $20.38. Nevertheless, trading volume fell to 1.31 million shares from 1.14 million shares the previous day.
Support And Resistance Levels for APi Group Corporation (APG)
According to the 24-hour chart, there is a support level at 16.40, which, if violated, would cause prices to drop to 15.83. In the upper region, resistance lies at 17.88. The next price resistance is at 18.79. RSI (Relative Strength Index) is 54.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.82, which suggests the price will decrease in the coming days. Percent R is at 48.21%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
Is APi Group Corporation subject to short interest?
Stocks of APi Group Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.35 million shares to 6.2 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.85 million shares. A jump of 5.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.24.
Which companies own the most shares of APi Group Corporation (APG)?
According to Viking Global Investors LP filings, the company currently owns 33,463,200 shares, which is about 14.35% of the total APG shares outstanding. The investor’s shares have appreciated by 129,867 from its previous 13-F filing of 33333333.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $243,689,504. BlackRock Fund Advisors reduced a -0.52% interest valued at $179.78 million while Allspring Global Investments LLC purchased a 207,160 stake. A total of -2,000 shares of APi Group Corporation were bought by Fidelity Investments Canada ULC during the quarter, and -37,814 were sold by ClearBridge Investments LLC. In its current portfolio, Permian Investment Partners LP holds 5,659,822 shares valued at $84.73 million.
In terms of APi Group Corporation share price expectations, FactSet research, analysts set an average price target of $22.67 in the next 12 months, up nearly 20.28% from the previous closing price of $18.29. Analysts anticipate APi Group Corporation stock to reach $30.00 by 2022, with the lowest price target being $15.00. In spite of this, 9 analysts ranked APi Group Corporation stock as an Overweight at the end of 2022. On January 10, 2022, Robert W. Baird assigned a price target of “a Neutral” to the stock and downgraded coverage with a $26.