Trading Report: The Apollo Global Management LLC (APO) Upgraded by Zacks Investment Research to “Buy”

The Apollo Global Management LLC (APO) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Apollo Global Management LLC (NYSE:APO) from a hold rating to a buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $21.00 target price on the stock.

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. “

Several other analysts have also issued reports on the stock. Vetr upgraded shares of Apollo Global Management from a buy rating to a strong-buy rating and set a $20.76 price target for the company in a research report on Thursday, September 8th. Argus upped their price target on shares of Apollo Global Management from $22.00 to $24.00 and gave the company a buy rating in a research report on Friday, August 12th. JMP Securities restated a buy rating and set a $26.00 price target on shares of Apollo Global Management in a research report on Thursday, July 7th. TheStreet upgraded shares of Apollo Global Management from a hold rating to a buy rating in a research report on Thursday, September 1st. Finally, Oppenheimer Holdings Inc. upgraded shares of Apollo Global Management from a market perform rating to an outperform rating and upped their price target for the company from $17.61 to $19.00 in a research report on Friday, August 5th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Apollo Global Management currently has a consensus rating of Buy and a consensus target price of $20.38.

Shares of Apollo Global Management (NYSE:APO) opened at 18.68 on Tuesday. The firm has a 50 day moving average price of $18.31 and a 200-day moving average price of $17.05. Apollo Global Management has a one year low of $12.35 and a one year high of $19.18. The firm has a market cap of $3.45 billion, a P/E ratio of 19.42 and a beta of 1.77.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.19. The business had revenue of $351.73 million for the quarter, compared to analysts’ expectations of $350.06 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 87.8% on a year-over-year basis. Analysts forecast that Apollo Global Management will post ($0.74) earnings per share for the current year.

In other Apollo Global Management news, Director Pauline Richards purchased 1,800 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were acquired at an average price of $18.41 per share, for a total transaction of $33,138.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc J. Rowan sold 565,519 shares of Apollo Global Management stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $18.62, for a total transaction of $10,529,963.78. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oakworth Capital Inc. acquired a new position in shares of Apollo Global Management during the second quarter valued at $128,000. BlackRock Institutional Trust Company N.A. purchased a new position in Apollo Global Management during the first quarter worth $135,000. Stifel Financial Corp purchased a new position in Apollo Global Management during the second quarter worth $158,000. Veritable L.P. purchased a new position in Apollo Global Management during the second quarter worth $172,000. Finally, Societe Generale purchased a new position in Apollo Global Management during the second quarter worth $227,000.

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 operates through three segments: Private equity, Credit and Real estate.

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