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Ian Ashken, a director at APi Group Corp (NYSE:APG), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Ashken sold a total of 199,000 shares of APi Group’s common stock on March 3, 2025. The sales occurred at prices ranging from $37.42 to $39.23 per share, generating a total of approximately $7.57 million. The transaction comes as InvestingPro data shows APG trading near $37.13, with analysts setting price targets between $38 and $50.
Following these transactions, Ashken now holds 5,762,102 shares indirectly through IGHA Holdings, LLLP. The sales were executed under a Rule 10b5-1 trading plan, which was adopted by IGHA Holdings, LLLP on August 7, 2024. This plan allows insiders to set up a predetermined schedule for selling stocks in compliance with insider trading laws. With a beta of 1.88, InvestingPro analysis indicates APG stock experiences significant price movements, making timing crucial for investors.
Ashken’s remaining shares are held through various entities, including the Ian G.H. Ashken Living Trust and Mariposa Acquisition IV, LLC. The transactions reflect a strategic financial decision made by Ashken, who continues to maintain a significant investment in the $10.3 billion market cap company. According to InvestingPro, APG maintains a GOOD financial health score, with additional insights available in the comprehensive Pro Research Report.
In other recent news, API Group Corp reported its fourth-quarter earnings for 2024, meeting analyst expectations with earnings per share (EPS) of $0.51 and slightly surpassing revenue projections at $1.86 billion. The company achieved a record net revenue of $7 billion for the year, marking a 1.3% growth from the previous year. API Group’s adjusted EBITDA rose by 16.3% in the fourth quarter, indicating robust operational performance. Despite meeting earnings expectations, the stock experienced a decline of 2.38% in pre-market trading, reflecting broader market volatility and potential investor concerns over future challenges. API Group continues to expand in the elevator and escalator services market, and the company projects 2025 net revenue between $7.3 billion and $7.5 billion. Analyst firms such as RBC Capital Markets and William Blair engaged with the company during the earnings call, focusing on margin expansion strategies and project delays. The company plans to pursue mergers and acquisitions, emphasizing bolt-on acquisitions in the fire life safety, security, and elevator sectors. API Group remains focused on margin expansion and capitalizing on growth opportunities in its core service areas.
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