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Apollo Global Management (NYSE:APO) Upgraded by Morgan Stanley to Equal-Weight from Equal-Weight Rating

Morgan Stanley Analyst Rating Change Apollo Global Management NYSE:APO

Apollo Global Management (NYSE:APO) Rating Increased

Morgan Stanley has boosted Apollo Global Management (NYSE:APO) stock to Overweight in an analyst report shared with investors on Wednesday morning. APO’s old rating was Equal-Weight.

In spite of the company’s rating upgrade NYSE:APO is now trading -0.24% lower at $29.46 as of 12:05 PM New York time. Apollo Global Management’s stock is 0% in the past 200 days. It has underperformed the S&P 500, which has added 6.00% in the same time period.

According to data compiled by Thomson Reuters, Apollo Global Management (NYSE:APO)’s stock is covered by 13 equity analysts across the Street, with 0 analysts giving it a Sell rating, 6 a Buy rating, while 10 consider it a Hold. The 12-month consensus target price for the stock is $20.65, which reflects an downside potential of 29.90% over the current price.

Institutional Ownership

Hmi Capital Llc had the largest stake with ownership of 5.47M shares as of q2 2015 for 16.34% of the stock exposure. Raiff Partners Inc is another bull as the investment professional who is owning 135,000 shares of Apollo Global Management or 3.18% of their stock exposure. Further, Concourse Capital Management Llc have 2.99% of their stock exposure invested in the company for 256,256 shares. The New York-based fund Para Advisors Llc disclosed it had acquired a stake worth about 2.57% of the investment professional’s stock portfolio in Apollo Global Management. The New York-based fund New Mountain Vantage Advisers L.L.C. is also positive about the stock, possessing 25,000 shares or 2.45% of their stock exposure.

Apollo Global Management (NYSE:APO) 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’s segments include private equity, credit and real estate.

Apollo Global Management (NYSE:APO) traded down -0.24% on 3 January, hitting $29.46. A total of shares of the company’s stock traded hands. This is down from average of 1.06 million shares. Apollo Global Management has a 52 week low of $17.38 and a 52 week high of $30.75. The company has a market cap of $5.71 billion and a P/E ratio of 11.57.

Get the latest Apollo Global Management (NYSE:APO) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Apollo Global Management (NYSE:APO) Upgraded by Morgan Stanley to Equal-Weight from Equal-Weight Rating appeared first on Octafinance.

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Apollo Global Management (NYSE:APO) Upgraded by Morgan Stanley to Equal-Weight from Equal-Weight Rating


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