APO - Apollo Global Management, Inc.
| Previous Close | 50.36 |
| Open | 50.09 |
| Bid | 50.15 x 1300 |
| Ask | 50.20 x 1000 |
| Day's Range | 49.85 - 50.49 |
| 52 Week Range | 26.94 - 50.70 |
| Volume | 112,409 |
| Avg. Volume | 1,901,877 |
| Market Cap | 20.169B |
| Beta (5Y Monthly) | 1.51 |
| PE Ratio (TTM) | 24.08 |
| EPS (TTM) | 2.08 |
| Earnings Date | Jan 29, 2020 |
| Forward Dividend & Yield | 2.00 (3.97%) |
| Ex-Dividend Date | Nov 17, 2019 |
| 1y Target Est | 52.29 |
- Yahoo Finance
Changes to the Argus Focus List
Argus has made four additions to its Focus List this month, and a like number of subtractions. The 30 stock list features timely analyst recommendations.
- Barrons.com
KKR Is Cheaper Than Other Private-Equity Stocks. That’s an Opportunity.
Henry Kravis has long been one of Wall Street’s most respected financiers. It could well be the golden age of private equity, but (KKR) (ticker: KKR) is largely treated as a half-powered money-making machine. The stock gained 50% last year, sharply lagging behind its peers in a year that saw some private-equity stocks double as partnerships converted to corporations.
- Bloomberg
Blackstone and Apollo Make the Case for Opening Buyout Funds to Masses
(Bloomberg) -- Blackstone Group Inc. and Apollo Global Management Inc. delivered a simple message to Wall Street’s main regulator Tuesday: Private equity is stomping public markets, meaning mom-and-pop investors will endure inferior returns as long as rules keep them out.Speaking at a Securities and Exchange Commission event, top executives at the firms stopped short of urging the agency to dial back restrictions. But they came armed with data showing all the ways retail investors have been left behind. Their arguments: private markets are here to stay, less-liquid investments like corporate debt perform much better than stocks and private equity produces bigger gains with less volatility than publicly traded shares.“Private companies can now get ample funding and don’t need to do the IPO route” as early, said John Finley, Blackstone’s chief legal officer. “This is a fundamental change that regulators and the industry will have to deal with.”Stephanie Drescher, Apollo’s head of client and product solutions, added that the shift away from public markets has benefited buyout funds through increased demand and better investment opportunities.‘Growth Pales’”The growth pales in comparison to that of the private markets,” she said, referring to the size of public markets in recent years. “You can see the continued interest from the community of investors.”The comments come as the industry has a rare opportunity to get its hands on a chunk of the trillions of dollars in retail money that is now off limits because of decades-old rules. President Donald Trump’s de-regulatory agenda is sweeping through Washington and SEC Chairman Jay Clayton has pushed the agency to consider opening more private markets and deals to less-sophisticated investors.Under current regulations, Apollo, Blackstone, Carlyle Group Inc. and KKR & Co. must mostly raise funds from the super rich, sovereign wealth funds and pension funds. The SEC has long been concerned about less-sophisticated clients investing in complex products and not being able to quickly get their money back, as private-equity firms typically lock up cash for years.Blackstone’s Finley was careful to insist that any loosening of rules come with strong investor protections. He suggested offering retail clients access through regulated funds or via funds that already have a significant institutional investor base, allowing mom-and-pop investors to benefit from their due diligence.‘No Interest’“We have absolutely no interest in an expansion unless it’s done right,” he said.The panel discussion, hosted by a new SEC industry advisory group, is the agency’s latest effort to deal with the mushrooming growth of private markets. In June, the regulator sought public feedback on what restrictions funds with retail money should face in investing in private equity and hedge funds.In a related move, the SEC last month proposed changing some criteria that determines who’s sophisticated enough to invest in private funds. Those adjustments could also add to to the pool of people that can invest in private equity.To contact the reporter on this story: Ben Bain in Washington at bbain2@bloomberg.netTo contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Gregory MottFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Barrons.com
Apollo and KKR Stocks Are Too Expensive, Analyst Says. It’s Time to Take Profits.
Earnings for the companies haven’t improved nearly as much as their stock prices, leaving valuations stretched.
- Zacks
LM or APO: Which Is the Better Value Stock Right Now?
LM vs. APO: Which Stock Is the Better Value Option?
- GlobeNewswire
Funds Managed By Affiliates Of Apollo Global Management Acquire Transportation Partners & Logistics (TP&L)
FORT WORTH, Texas and NEW YORK, Jan. 13, 2020 -- Takkion Holdings LLC (“Takkion”), a subsidiary of funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO).
- Insider Monkey
Hedge Fund Consensus Stocks vs. Apollo Global Management, Inc. (APO) In 2019
2018's fourth quarter was a rough one for investors and many hedge funds, which were naturally unable to overcome the big dip in the broad market, as the S&P 500 fell by about 4.8% during 2018 and average hedge fund losing about 1%. The Russell 2000, composed of smaller companies, performed even worse, trailing the […]
- GlobeNewswire
Certain Funds and Accounts Managed by Affiliates of Apollo Global Management, Inc. Provide $800 Million Term Loan Commitments to New Fortress Energy LLC
NEW YORK, Jan. 13, 2020 -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced that certain funds and accounts.
- Barrons.com
Voya Financial Could Attract Foreign Buyers, Private Equity
Big private-equity firms like Apollo Global Management or Carlyle Group would be among the logical buyers for the New York insurer, investment bankers said.
- Bloomberg
Apollo’s Diamond Resorts Enters Manhattan With Timeshare Deal
(Bloomberg) -- Diamond Resorts, the timeshare company owned by Apollo Global Management Inc., is entering the Manhattan market in a bid to appeal to younger vacationers.Las Vegas-based Diamond signed a deal with lodging owner Highgate to rent units at two Midtown properties, the Park Central and the WestHouse, giving the timeshare company its first New York City presence.Diamond has been courting millennials with concerts, live events and urban locations, and adding a New York property fits that strategy, Chief Executive Officer Mike Flaskey said in an interview. The company is also converting a ballroom at the Park Central into a sales office, and will station staff in the lobbies of other Highgate properties in New York to market timeshares.Timeshare companies, which sell fractional stakes in vacation properties, have long catered to young families by offering units that include kitchens and extra bedrooms. That demographic now includes millennials, a generation known for embracing city life. Wyndham Destinations Inc. and Marriott Vacations Worldwide Corp. have long offered Manhattan properties.Hilton Grand Vacations Inc., another timeshare company that has been investing in Manhattan, has attracted bids from potential buyers including Apollo, Bloomberg reported in October.To contact the reporter on this story: Patrick Clark in New York at pclark55@bloomberg.netTo contact the editors responsible for this story: Craig Giammona at cgiammona@bloomberg.net, Christine MaurusFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- GlobeNewswire
Affiliates of Certain Funds Managed By Affiliates Of Apollo Global Management, Inc. Announce The Closing Of The Previously Announced Transaction With Snapfish And Shutterfly
NEW YORK, Jan. 08, 2020 -- Affiliates of certain funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (together with its consolidated.
- American City Business Journals
Tech Data sets shareholder vote date for Apollo Global deal
A date has been set to see if shareholders approve a proposed sale of Tech Data Corp. The board of directors will hold a special meeting on Feb. 12 at the Raymund Center, 5350 Tech Data Drive in Clearwater. Shareholders have until Jan. 9 to buy into the company and be able to vote at the board meeting, according to a filing with the U.S. Securities and Exchange Commission. The acquisition offer was originally made on Nov. 13, 2019 by Apollo Global Management Inc. (NYSE: APO) for $5.4 billion.
- GlobeNewswire
Northwoods Energy LLC Announces Strong Production Results from Multiple Stacked Targets in the Powder River Basin in Wyoming
DENVER, Jan. 07, 2020 -- Northwoods Energy LLC (“Northwoods”), supported by investment funds affiliated with Apollo Global Management, Inc. (NYSE: APO), announced today initial.
- GlobeNewswire
Apollo Global Management to Announce Fourth Quarter and Full Year 2019 Financial Results and Host Conference Call on January 30, 2020
Apollo Global Management, Inc. (APO) (together with its consolidated subsidiaries, “Apollo”) announced today that it plans to release its financial results for the fourth quarter and full year 2019 on Thursday, January 30, 2020, before the opening of trading on the New York Stock Exchange.
- Bloomberg
Apollo-Backed Security Firm In Talks for Debt Restructuring
(Bloomberg) -- Constellis Holdings LLC, a security contractor backed by Apollo Global Management Inc., is in talks with creditors on a deal to restructure its $1 billion of debt, according to people with knowledge of the discussions.The firm, which has provided some security services around the U.S. embassy complex in Iraq -- the site of anti-American protests this week -- is seeking to restructure out of court. But it’s also considering a pre-negotiated bankruptcy filing, said the people, who asked not to be identified because the matter is private.Reston, Virginia-based Constellis entered into a forbearance agreement with a group of lenders after missing a principle payment due Dec. 31 on an $872 million loan, the people said. Under the agreement, the company’s operations globally will continue as debt talks progress.The company, which bought what was once Blackwater, the private-security firm founded by Erik Prince, has struggled as the U.S. scaled back operations overseas. Domestic work came with lower margins and the company has been bogged down with start-up costs on new contracts, S&P Global Ratings said in a report in November as it cut the company’s credit grades.New LoanApollo bought Constellis in 2016 after a number of restructurings and name changes.Constellis “plans to continue to operate our business, execute our business strategy and meet our obligations to our stakeholders,” the company said in an emailed statement.The firm said it recently closed on a $110 million delayed-draw credit facility provided by some of its existing lenders. Constellis also said the forbearance agreement with lenders “provides additional time and flexibility to continue discussions around de-levering and recapitalizing our balance sheet.”Constellis’ new loan requires that the company present a debt restructuring plan by Feb. 4, S&P said Thursday.The loan will be used to support business and operations during the proposed restructuring, the people with knowledge of the matter said. The talks are still in flux and plans could change, they said. Once the restructuring is complete, Apollo would give up its majority equity position and hand the keys to existing lenders, who would swap their holdings for shares of the restructured company.A representative for Apollo didn’t immediately comment.Embassy SecurityConstellis operates in 30 countries and provides risk management, security, humanitarian, training and operational support services to government and commercial customers, according to its website.That work has included security related to individuals departing from and arriving at the U.S. embassy in Baghdad, according to one of the people. Dozens of Iraqi militiamen and their supporters this week stormed the complex to protest deadly U.S. airstrikes against their Iranian-backed force as President Donald Trump blamed Tehran for instigating the protest, and U.S. officials faulted Iraqi security forces for failing to secure the embassy’s perimeter.The company’s $725 million first-lien loan due in 2024 trades at less than half its face value, while a $215 million second-lien loan is quoted at around 10 cents on the dollar, according to prices compiled by Bloomberg.Constellis is working with investment bank PJT Partners Inc. while the group of lenders enlisted law firm Gibson Dunn & Crutcher LLP and investment bank Houlihan Lokey Inc., the people said.A representative for PJT didn’t immediately respond to messages seeking comment, while a spokesman for Gibson Dunn didn’t immediately provide a comment. Houlihan declined to comment.(Adds prices on the company’s loans in 13th paragraph. A previous version of the story corrected the description of security services in second and 12th paragraphs.)To contact the reporters on this story: Katherine Doherty in New York at kdoherty23@bloomberg.net;Sally Bakewell in New York at sbakewell1@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Shannon D. HarringtonFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Moody's
Constellis Holdings, LLC -- Moody's downgrades Constellis ratings following limited default -- CFR to Ca, PDR to Ca-PD/LD, Existing 1st/2nd lien to Ca/C
Moody's Investors Service downgraded its ratings for Constellis Holdings, LLC, including the company's corporate family rating (to Ca, from B3) and probability of default rating (to Ca-PD/LD, from B3-PD), and the ratings for the company's existing senior secured bank credit facility (first lien to Ca, from B2; second lien to C, from Caa2).
- Bloomberg
Apollo, Varde Pull Out of Race for India Shadow Bank Altico
(Bloomberg) -- Apollo Global Management LLC and Varde Partners LP are no longer considering bidding for Altico Capital India Ltd., according to people familiar with the matter, narrowing the number of suitors for the troubled shadow lender.The firms pulled out because they were unwilling to meet creditor demands to inject as much as 20 billion rupees ($280 million) of fresh equity into Altico, two people said, asking not to be identified as the information is private. A spokesman for Apollo confirmed its withdrawal while Varde declined to comment.That leaves Cerberus Capital Management LP, SSG Capital Management, and Kotak Investment Advisors Ltd. in the race for the real-estate focused lender, three people said. Representatives for Cerberus, SSG and Kotak declined to comment.Altico’s troubles follow a spate of defaults among Indian shadow banks over the last 16 months, making it harder for the sector to raise funds. The cash crunch is also spilling over into the broader economy, given that these lenders fund everything from the construction of condominiums to purchases of personal goods like cars and phones.Apollo was only willing to inject part of the money creditors sought, while Varde wanted to wait for a turnaround in Altico before investing, two people said.Without the funds, Altico may have to leave some projects only partly financed, which could ripple onto the developers and hurt their ability to repay their loans. Altico had given out 68.9 billion rupees of loans to 34 borrowers as of June.(Updates with Altico loan book in final paragraph)To contact the reporters on this story: Bijou George in Mumbai at bgeorge66@bloomberg.net;Rahul Satija in Mumbai at rsatija1@bloomberg.netTo contact the editors responsible for this story: Andrew Monahan at amonahan@bloomberg.net, Jeanette Rodrigues, Shamim AdamFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
- Zacks
VRTS or APO: Which Is the Better Value Stock Right Now?
VRTS vs. APO: Which Stock Is the Better Value Option?
- GlobeNewswire
Intrado Completes Divestiture of Claims Recovery Business
The sale of this business allows Intrado to further focus on its core cloud-based technology and next generation solutions. Intrado Corporation is an innovative, cloud-based, global technology partner to clients around the world. Intrado has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America and South America.
- GlobeNewswire
Intrado Digital Media Introduces Podcast Monitoring and Reporting Through its Notified Platform
Intrado, a global leader in technology-enabled services, today announced the addition of podcast monitoring to Notified, the first end-to-end communications workflow automation platform. Together with print, online news and social media, Notified’s listening, measurement and alert capabilities now include the ability to monitor podcasts from around the world.
- Investopedia
Why Buffett's Berkshire Can Lead in 2020 Defying Bears
Berkshire Hathaway has been a market laggard in recent years, but several factors point to a rebound in 2020, especially if the market falters.
- American City Business Journals
Cox Enterprises completes sale of stations & assets; new owner names C-suite
Kim Guthrie will lead the new Cox Media Group as president and CEO; Steven Pruitt joins as executive chairman.
- PR Newswire
Cox Enterprises Announces Close of Cox Media Group Sale to Affiliates of Apollo Global Management
Cox Enterprises, Inc. today announced it has completed the sale of its portfolio of television and radio stations, Ohio assets and its affiliated CoxReps and Gamut national advertising businesses to a new media company that is majority owned by private equity funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO). Cox Enterprises maintains a minority stake in the new company, which will include Northwest Broadcasting and will continue to operate under the name "Cox Media Group," ("CMG" or the "Company") with headquarters in Atlanta, Georgia.
- Barrons.com
Metals Giant Arconic on Track to Split in the Second Quarter of 2020
Arconic has filed documents with the U.S. Securities and Exchange Commission, that could mean the lightweight metals manufacturer will split in two by the second quarter of 2020.
