Investors Buy Large Volume of Call Options on Apollo Global Management (APO)

Apollo Global Management LLC (NYSE:APO) saw some unusual options trading activity on Tuesday. Stock traders acquired 16,162 call options on the company. This represents an increase of 2,327% compared to the typical volume of 666 call options.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 43,714 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $29.18 per share, for a total transaction of $1,275,574.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.11% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of APO. Bank of New York Mellon Corp bought a new stake in shares of Apollo Global Management in the second quarter worth $240,000. Wells Fargo & Company MN lifted its holdings in Apollo Global Management by 10.5% in the second quarter. Wells Fargo & Company MN now owns 373,218 shares of the financial services provider’s stock valued at $9,872,000 after buying an additional 35,377 shares during the period. Stephens Inc. AR lifted its holdings in Apollo Global Management by 29.9% in the second quarter. Stephens Inc. AR now owns 20,724 shares of the financial services provider’s stock valued at $548,000 after buying an additional 4,769 shares during the period. Ameriprise Financial Inc. lifted its holdings in Apollo Global Management by 55.7% in the second quarter. Ameriprise Financial Inc. now owns 14,953 shares of the financial services provider’s stock valued at $396,000 after buying an additional 5,350 shares during the period. Finally, Origin Asset Management LLP lifted its holdings in Apollo Global Management by 176.3% in the second quarter. Origin Asset Management LLP now owns 814,000 shares of the financial services provider’s stock valued at $21,530,000 after buying an additional 519,431 shares during the period. 72.43% of the stock is currently owned by institutional investors.

Shares of Apollo Global Management (NYSE:APO) opened at $36.19 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.58. Apollo Global Management has a one year low of $20.38 and a one year high of $36.39. The firm has a market cap of $7,000.00, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.08 and a beta of 1.22.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.51. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The company had revenue of $645.20 million for the quarter, compared to analysts’ expectations of $467.72 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Apollo Global Management’s revenue for the quarter was up 31.1% on a year-over-year basis. analysts forecast that Apollo Global Management will post 2.97 EPS for the current year.

A number of brokerages recently issued reports on APO. Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Monday, November 6th. Jefferies Group boosted their target price on shares of Apollo Global Management from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Credit Suisse Group boosted their target price on shares of Apollo Global Management from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Wells Fargo & Co reaffirmed an “outperform” rating and set a $39.00 target price (up previously from $34.00) on shares of Apollo Global Management in a research note on Thursday, November 2nd. Finally, Morgan Stanley raised shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 target price on the stock in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $34.46.

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About Apollo Global Management

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.

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