Traders Purchase High Volume of Put Options on Apollo Global Management (APO)

Apollo Global Management LLC (NYSE:APO) was the target of some unusual options trading activity on Monday. Stock traders acquired 3,963 put options on the stock. This represents an increase of approximately 1,154% compared to the typical volume of 316 put options.

Apollo Global Management (NYSE APO) traded up $0.18 during midday trading on Friday, hitting $33.47. 675,279 shares of the stock traded hands, compared to its average volume of 815,010. The firm has a market capitalization of $6,442.95, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.11 and a beta of 1.22. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. Apollo Global Management has a 12 month low of $19.28 and a 12 month high of $34.03.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.51. The company had revenue of $645.20 million during the quarter, compared to analyst estimates of $467.72 million. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The company’s revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. research analysts expect that Apollo Global Management will post 2.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Monday, November 20th. Apollo Global Management’s payout ratio is 50.98%.

In related news, major shareholder Tiger Global Management Llc bought 43,714 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $29.18 per share, for a total transaction of $1,275,574.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.11% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tiger Global Management LLC increased its holdings in shares of Apollo Global Management by 40.9% in the second quarter. Tiger Global Management LLC now owns 32,885,212 shares of the financial services provider’s stock valued at $869,814,000 after purchasing an additional 9,550,313 shares in the last quarter. Capital World Investors increased its holdings in shares of Apollo Global Management by 16.5% in the second quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock valued at $202,335,000 after purchasing an additional 1,082,313 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Apollo Global Management by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 5,394,866 shares of the financial services provider’s stock valued at $163,950,000 after purchasing an additional 152,999 shares in the last quarter. GMT Capital Corp increased its holdings in shares of Apollo Global Management by 224.2% in the second quarter. GMT Capital Corp now owns 4,268,063 shares of the financial services provider’s stock valued at $112,421,000 after purchasing an additional 2,951,622 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Apollo Global Management by 6.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,389,884 shares of the financial services provider’s stock valued at $71,936,000 after purchasing an additional 152,657 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

APO has been the subject of several recent research reports. Jefferies Group reissued a “buy” rating and issued a $34.00 price target on shares of Apollo Global Management in a research report on Tuesday, September 26th. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price target (up previously from $28.00) on shares of Apollo Global Management in a research report on Thursday, October 5th. Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price target on shares of Apollo Global Management in a research report on Thursday, October 12th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $39.00 price target (up previously from $34.00) on shares of Apollo Global Management in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.54.

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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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