Apollo Global Management, Inc. (NYSE:APO) Sees Significant Growth in Short Interest

Apollo Global Management, Inc. (NYSE:APO) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 20,250,000 shares, a growth of 5.9% from the July 15th total of 19,120,000 shares. Based on an average daily trading volume, of 2,790,000 shares, the short-interest ratio is presently 7.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on APO shares. TD Cowen upped their target price on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. UBS Group boosted their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.62.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded up $0.59 during midday trading on Monday, reaching $111.59. 998,549 shares of the company traded hands, compared to its average volume of 2,527,068. The firm’s fifty day moving average price is $116.33 and its two-hundred day moving average price is $113.11. The firm has a market capitalization of $63.40 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Apollo Global Management has a 12 month low of $77.11 and a 12 month high of $126.45.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the previous year, the company posted $1.54 earnings per share. On average, equities analysts expect that Apollo Global Management will post 7.09 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds have recently added to or reduced their stakes in APO. CWA Asset Management Group LLC raised its position in Apollo Global Management by 2.8% in the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 94 shares during the period. Zhang Financial LLC lifted its position in Apollo Global Management by 0.6% during the first quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock valued at $1,993,000 after purchasing an additional 97 shares in the last quarter. FineMark National Bank & Trust grew its holdings in Apollo Global Management by 2.4% during the second quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 98 shares during the period. Orion Capital Management LLC increased its position in Apollo Global Management by 20.0% in the first quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after buying an additional 100 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Apollo Global Management by 8.5% in the first quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock worth $147,000 after buying an additional 102 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.