APi Group Corp (NYSE:APG) director James E. Lillie has sold 125,000 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on May 6, was executed at a weighted average price of $37.21 per share, yielding a total sale value of approximately $4.65 million.
The shares were sold under a Rule 10b5-1 trading plan, which had been previously adopted by JTOO LLC, a company for which Lillie serves as the manager. Specific sale prices per share during the transaction ranged from $36.80 to $37.46. Following the sale, Lillie's directly owned stake in APi Group Corp stands at 5,330,411 shares.
The filing also detailed holdings by Mariposa Acquisition IV, LLC, which owns both common and Series A Preferred stock in APi Group. Mariposa Acquisition IV, LLC is linked to JTOO LLC, which is owned by the Lillie 2015 Dynasty Trust. As such, Lillie may be deemed to have a pecuniary interest in the 1,659 shares of common stock and 768,000 shares of Series A Preferred Stock held by Mariposa Acquisition IV, LLC. However, Lillie disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
The SEC filing also made reference to restricted stock units (RSUs) that are set to vest on the earlier of June 15, 2024, or the date of APi Group's 2024 annual meeting of stockholders. Each RSU represents a contingent right to receive one share of APi Group's common stock.
APi Group Corp, headquartered in New Brighton, Minnesota, is a market-leading business services provider of safety, specialty, and industrial services. The company trades on the New York Stock Exchange under the ticker symbol APG.
InvestingPro Insights
Recent market activities around APi Group Corp (NYSE:APG) have shown a mix of expectations and performance metrics that are crucial for investors to consider. The company's market capitalization stands at a solid 10.26 billion USD, reflecting its substantial presence in the industry. Despite a negative P/E ratio of -17.66, signaling that the company has not been profitable over the last twelve months, analysts predict a turnaround with net income expected to grow this year. This optimism is also reflected in the company's price movements, which have been quite volatile but have led to a large price uptick over the last six months, with a 40.49% total return.
Investors should note, however, that APG is trading at a high EBIT valuation multiple and a high Price / Book multiple of 4.46, suggesting that the stock is priced at a premium compared to its book value. This could be indicative of the market's high expectations for the company's future growth and profitability. Moreover, APG has demonstrated a significant return on assets of 2.3% for the last twelve months as of Q1 2024, which may attract investors looking for companies with efficient asset utilization.
For a more comprehensive analysis, there are additional InvestingPro Tips available for APi Group Corp, which can provide further insight into the company's performance and potential. For instance, while some analysts have revised their earnings downwards for the upcoming period, the overall high return over the last year and the strong return over the last five years suggest a robust long-term performance. It's also important to note that APG does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income streams.
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