APi Group Corporation’s recently made public that its 10% Owner VIKING GLOBAL INVESTORS LP unloaded Company’s shares for reported $104.07 million on Mar 05 ’24. In the deal valued at $34.25 per share,3,038,617 shares were sold. As a result of this transaction, VIKING GLOBAL INVESTORS LP now holds 39,032 shares worth roughly $1.53 million.
Then, VIKING GLOBAL INVESTORS LP sold 3,038,617 shares, generating $104,072,632 in total proceeds. Upon selling the shares at $34.25, the 10% Owner now owns 39,032 shares.
Before that, ASHKEN IAN G H sold 150,000 shares. APi Group Corporation shares valued at $5,757,000 were divested by the Director at a price of $38.38 per share. As a result of the transaction, ASHKEN IAN G H now holds 5,978,779 shares, worth roughly $234.91 million.
Jefferies initiated its APi Group Corporation [APG] rating to a Buy in a research note published on March 15, 2024; the price target was $48. Robert W. Baird also remained covering APG and has increased its forecast on May 17, 2023 with a “an Outperform” recommendation from previously “Neutral” rating. BofA Securities revised its rating on July 11, 2022. It rated APG as “a Buy” which previously was an “a Neutral”.
Price Performance Review of APG
On Friday, APi Group Corporation [NYSE:APG] saw its stock jump 1.24% to $39.29. Over the last five days, the stock has gained 0.05%. APi Group Corporation shares have risen nearly 13.55% since the year began. Nevertheless, the stocks have risen 82.83% over the past one year. While a 52-week high of $39.95 was reached on 03/28/24, a 52-week low of $20.58 was recorded on 01/04/24. SMA at 50 days reached $36.39, while 200 days put it at $30.45. A total of 1.01 million shares were traded, compared to the trading of 1.04 million shares in the previous session.
Levels Of Support And Resistance For APG Stock
The 24-hour chart illustrates a support level at 38.99, which if violated will result in even more drops to 38.68. On the upside, there is a resistance level at 39.58. A further resistance level may holdings at 39.87. The Relative Strength Index (RSI) on the 14-day chart is 61.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.16%. Stochastics %K at 62.76% indicates the stock is a holding.
How much short interest is there in APi Group Corporation?
A steep rise in short interest was recorded in APi Group Corporation stocks on Mar 15, 2024, growing by 0.83 million shares to a total of 5.61 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.78 million shares. There was a rise of 14.8%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.01% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.15.
The most recent change occurred on June 17, 2022 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $17 price target.
