Why Has Jefferies Given Apollo Global Management (NYSE:APO) a $19 Price Target
Analysts at Jefferies commenced coverage coverage on shares of Apollo Global Management (NYSE:APO) in an interesting research report disseminated on Thursday morning. The firm set “Hold” rating on the $2.78B market cap company.
From a total of 15 analysts covering Apollo Global Management (NYSE:APO) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 44% of the ratings are positive. The highest target price is $41 while the lowest target price is $16.5. The mean of all analyst targets is $23.77 with a 43.08% above today’s ($15.76) stock price. Apollo Global Management was the topic of 13 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on December 8 to “Neutral” rating. UBS maintained shares with “Buy” rating and $23 target share price in a report from a July 30. Argus Research maintained APO stock in a recent report from October 29 with “Buy” rating. Finally, Goldman Sachs initiated the stock with “Neutral” rating in a report issued on an August 11.
Approximately 130,993 shares of stock traded hands. Apollo Global Management LLC (NYSE:APO) has declined 31.22% since May 7, 2015 and is downtrending. It has underperformed by 29.28% the S&P500.
The overall sentiment of institutions has decreased to 0.94 in Q2 2015. Its down 0.11, from 1.05 in 2015Q2. The ratio is negative, as 23 institutions have sold all the shares of Apollo Global Management LLC that they owned while 42 funds have taken shares off the table. 12 funds have purchased shares for the first time while 49 added to their positions. These institutions now hold 103.33 million shares or 2.04% more than the 101.26 million shares they owned in 2015Q2.
The Fund Hmi Capital Llc currently is holding shares equating to 14.19% of its total portfolio in Apollo Global Management LLC representing a total of 2.63 million shares. Another fund,Serengeti Asset Management Lp, is holding a total of 1.50 million shares equating to 4.46% of their holdings. Additionally, Coronation Asset Management (Pty) Ltd. has a 2.38 million share stake in Apollo Global Management LLC which represents 2.19% of their total portfolio. The Fund, Dsc Advisors L.P., based out of Illinois, has also built up a stake in the stock, which represents a total of 2.15% of their total portfolio. Finally Trust & Fiduciary Management Services Inc, a fund which is based in the state of Massachusetts reported a total holdings of 157,621 shares.
Apollo Global Management, LLC is an investment manager in private equity, credit and real estate. The company has a market cap of $2.78 billion. The Firm raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. It has 24.64 P/E ratio.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on Apollo Global Management LLC (APO).