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 $649,300 were purchased by MALKIN ANTHONY E on Sep 19. At $15.10 per share, MALKIN ANTHONY E acquired 43,000 shares. The insider’s holdings grew to 83,400 shares worth approximately $1.97 million following the completion of this transaction.
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Also, MALKIN ANTHONY E purchased 21,500 shares, netting a total of over 324,650 in proceeds. Following the buying of shares at $15.10 each, the insider now holds 77,396 shares.
Before that, MALKIN ANTHONY E had added 3,390 shares to its account. In a trade valued at $50,748, the Director bought APi Group Corporation shares for $14.97 each. Upon closing the transaction, the insider’s holdings increased to 3,390 shares, worth approximately $1.21 million.
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 -2.87% premium over Wednesday’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 Stock Performance
On Wednesday, APi Group Corporation [NYSE: APG] rose 0.72% to $23.66. The stock’s lowest price that day was $23.53, but it reached a high of $24.175 in the same session. During the last five days, there has been a surge of approximately 3.09%. Over the course of the year, APi Group Corporation shares have jumped approximately 25.78%. Shares of the company reached a 52-week high of $24.17 on 03/01/23 and a 52-week low of $18.33 on 01/05/23. A 50-day SMA is recorded $20.75, while a 200-day SMA reached $17.57. Nevertheless, trading volume fell to 1.06 million shares from 1.77 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 23.40, which, if violated, would cause prices to drop to 23.14. In the upper region, resistance lies at 24.05. The next price resistance is at 24.43. RSI (Relative Strength Index) is 71.30 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.96, which suggests the price will decrease in the coming days. Percent R is at 17.31%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is APi Group Corporation subject to short interest?
Stocks of APi Group Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.77 million shares to 3.88 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.65 million shares. A decline of -19.85% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.18 of the overall float, the days-to-cover ratio (short ratio) decline to 6.18.
Which companies own the most shares of APi Group Corporation (APG)?
According to Viking Global Investors LP filings, the company currently owns 33,819,567 shares, which is about 14.46% of the total APG shares outstanding. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $400,329,185. BlackRock Fund Advisors acquire a 1.74% interest valued at $288.17 million while Allspring Global Investments LLC purchased a 593,636 stake. A total of -13,129 shares of APi Group Corporation were bought by ClearBridge Investments LLC during the quarter, and -89,472 were sold by Permian Investment Partners LP. In its current portfolio, Fidelity Investments Canada ULC holds 5,831,287 shares valued at $129.69 million.
In terms of APi Group Corporation share price expectations, FactSet research, analysts set an average price target of $25.88 in the next 12 months, up nearly 10.69% from the previous closing price of $23.49. Analysts anticipate APi Group Corporation stock to reach $29.00 by 2023, with the lowest price target being $21.00. On January 10, 2022, Robert W. Baird assigned a price target of “a Neutral” to the stock and downgraded coverage with a $26.