Apollo Global Management, LLC (APO) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Apollo Global Management, LLC (NYSE:APO) from a buy rating to a hold rating in a research report report published on Thursday morning.

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 research analysts have also recently issued reports about the stock. Jefferies Group LLC reiterated a buy rating on shares of Apollo Global Management in a research report on Friday, June 30th. BidaskClub cut shares of Apollo Global Management from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $33.00 target price on shares of Apollo Global Management in a research report on Friday, July 14th. UBS AG reiterated a buy rating and issued a $32.00 target price (up from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $30.00 target price (up from $28.00) on shares of Apollo Global Management in a research report on Thursday, October 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $30.50.

Shares of Apollo Global Management (NYSE APO) opened at 31.13 on Thursday. Apollo Global Management has a 12-month low of $17.38 and a 12-month high of $31.69. The stock has a 50 day moving average of $29.84 and a 200-day moving average of $27.83. The company has a market capitalization of $6.04 billion, a P/E ratio of 12.19 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The business had revenue of $432.87 million during the quarter, compared to analyst estimates of $455.29 million. Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. Apollo Global Management’s quarterly revenue was down 34.5% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. Equities research analysts forecast that Apollo Global Management will post $2.50 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Apollo Global Management, LLC (APO) Cut to Hold at Zacks Investment Research” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/15/apollo-global-management-llc-apo-cut-to-hold-at-zacks-investment-research.html.

In related news, Director Robert K. Kraft bought 30,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $28.88 per share, with a total value of $866,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tiger Global Management Llc bought 261,429 shares of the stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $27.93 per share, with a total value of $7,301,711.97. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,399,918 shares of company stock valued at $39,210,819. 4.11% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in APO. Tiger Global Management LLC boosted its stake in Apollo Global Management by 40.9% during the second quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock worth $869,814,000 after buying an additional 9,550,313 shares during the period. GMT Capital Corp boosted its stake in Apollo Global Management by 224.2% during the second quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock worth $112,421,000 after buying an additional 2,951,622 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in Apollo Global Management during the first quarter worth about $52,393,000. Bank of Montreal Can purchased a new position in Apollo Global Management during the second quarter worth about $54,333,000. Finally, Bank of America Corp DE boosted its stake in Apollo Global Management by 66.0% during the first quarter. Bank of America Corp DE now owns 4,612,397 shares of the financial services provider’s stock worth $112,173,000 after buying an additional 1,833,690 shares during the period. 73.58% of the stock is owned by institutional investors.

Apollo Global Management Company Profile

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’s segments include private equity, credit and real estate.

Get a free copy of the Zacks research report on Apollo Global Management (APO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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 research analysts have also recently issued reports about the stock. Jefferies Group LLC reiterated a buy rating on shares of Apollo Global Management in a research report on Friday, June 30th. BidaskClub cut shares of Apollo Global Management from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $33.00 target price on shares of Apollo Global Management in a research report on Friday, July 14th. UBS AG reiterated a buy rating and issued a $32.00 target price (up from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $30.00 target price (up from $28.00) on shares of Apollo Global Management in a research report on Thursday, October 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $30.50.

Shares of Apollo Global Management (NYSE APO) opened at 31.13 on Thursday. Apollo Global Management has a 12-month low of $17.38 and a 12-month high of $31.69. The stock has a 50 day moving average of $29.84 and a 200-day moving average of $27.83. The company has a market capitalization of $6.04 billion, a P/E ratio of 12.19 and a beta of 1.20.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The business had revenue of $432.87 million during the quarter, compared to analyst estimates of $455.29 million. Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. Apollo Global Management’s quarterly revenue was down 34.5% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. Equities research analysts forecast that Apollo Global Management will post $2.50 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Apollo Global Management, LLC (APO) Cut to Hold at Zacks Investment Research” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/15/apollo-global-management-llc-apo-cut-to-hold-at-zacks-investment-research.html.

In related news, Director Robert K. Kraft bought 30,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $28.88 per share, with a total value of $866,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tiger Global Management Llc bought 261,429 shares of the stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $27.93 per share, with a total value of $7,301,711.97. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,399,918 shares of company stock valued at $39,210,819. 4.11% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in APO. Tiger Global Management LLC boosted its stake in Apollo Global Management by 40.9% during the second quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock worth $869,814,000 after buying an additional 9,550,313 shares during the period. GMT Capital Corp boosted its stake in Apollo Global Management by 224.2% during the second quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock worth $112,421,000 after buying an additional 2,951,622 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in Apollo Global Management during the first quarter worth about $52,393,000. Bank of Montreal Can purchased a new position in Apollo Global Management during the second quarter worth about $54,333,000. Finally, Bank of America Corp DE boosted its stake in Apollo Global Management by 66.0% during the first quarter. Bank of America Corp DE now owns 4,612,397 shares of the financial services provider’s stock worth $112,173,000 after buying an additional 1,833,690 shares during the period. 73.58% of the stock is owned by institutional investors.

Apollo Global Management Company Profile

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’s segments include private equity, credit and real estate.

Get a free copy of the Zacks research report on Apollo Global Management (APO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Apollo Global Management (NYSE:APO)

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