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Leon D. Black, a significant stakeholder in Apollo Global Management, Inc. (NYSE:APO), executed a substantial stock sale recently. According to a Form 4 filing with the U.S. Securities and Exchange Commission, Black sold 607,725 shares of Apollo Global Management common stock on April 4, 2025. The shares were sold at an average price of $111.395 each, amounting to a total transaction value of approximately $67.7 million. The sale comes as Apollo's stock has experienced significant volatility, with shares down over 20% in the past week and trading well below their 52-week high of $189.49. InvestingPro analysis suggests the stock may be undervalued at current levels.
Following the sale, Black retains direct ownership of 33,997,048 shares in the company. Additionally, he holds an indirect interest in 5,500,000 shares through his spouse. This transaction is part of Black's ongoing management of his investment portfolio, as outlined in the filing. The company maintains strong fundamentals with a P/E ratio of 14.8 and has demonstrated its financial stability through 15 consecutive years of dividend payments.
The Form 4 document also includes a disclaimer from Black, indicating that while he may be considered part of a "group" under the Securities Exchange Act of 1934 due to his participation in the Apollo Global Management, Inc. Stockholders Agreement, he disclaims beneficial ownership of any securities not directly owned by him. With Apollo's market capitalization of $62.7 billion and expected earnings growth, investors can access detailed valuation metrics and 14 additional key insights through InvestingPro's comprehensive research report.
In other recent news, Apollo Global Management has released preliminary financial results for the first quarter, reporting alternative net investment income of approximately $290 million, translating to an estimated annualized return of 9%. Meanwhile, TD Cowen has maintained a Buy rating for Apollo Global Management, with a price target of $214, following investor meetings with the company's management. The analysts noted Apollo's strong performance amid economic uncertainty and highlighted its potential for long-term growth, despite short-term market volatility. In another development, Apollo is exploring the sale of Cox Media Group, which could potentially be valued at around $4 billion, engaging Moelis (NYSE:MC) & Co. for assistance. Additionally, Apollo has agreed to acquire a majority stake in OEG Energy Group, valuing the company at over $1 billion. The transaction is expected to close in the second quarter of 2025, pending regulatory approvals. This acquisition reflects Apollo's commitment to energy transition projects, with significant investments in climate-related initiatives. These recent developments underscore Apollo's strategic maneuvers in the asset management and energy sectors.
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