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Director Martin E. Franklin of APi Group CORP (NYSE:APG) recently sold 890,600 shares of common stock, generating approximately $32.3 million. The sales occurred between November 3 and November 5, with prices ranging from $35.44 to $36.78.
The sales were executed in multiple transactions. On November 3, Franklin sold 289,837 shares at a weighted average price of $36.17, with individual prices ranging from $35.6365 to $36.635. An additional 10,163 shares were sold on the same day at an average price of $36.78, with prices ranging from $36.645 to $36.89. On November 4, 260,000 shares were sold at an average price of $35.44, with prices ranging from $34.93 to $35.73. The sales continued on November 5, with 252,122 shares sold at an average price of $35.97 (price range $35.32 - $36.315) and 87,878 shares sold at an average price of $36.44 (price range $36.32 - $36.55).
Following these transactions, Franklin, through MEF Holdings, LLLP, still indirectly owns 18,968,790 shares of APi Group CORP. These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 8, 2025.
Franklin also indirectly owns 15,252 shares through Mariposa Acquisition IV, LLC and 543,361 shares through Brimstone Investments, LLC. Additionally, Mariposa Acquisition IV, LLC holds 3,456,000 shares of Series A Preferred Stock, convertible into common stock.
In other recent news, APi Group Corporation reported third-quarter results that exceeded analyst expectations, leading the company to raise its full-year guidance. The company achieved third-quarter revenue of $2.085 billion, marking a 14% increase from the previous year and surpassing consensus estimates of $2.007 billion. Adjusted EBITDA was $281 million, also beating expectations of $276 million, although the margin slightly missed the consensus due to business mix factors. Additionally, APi Group issued a warning to shareholders about an unsolicited mini-tender offer from TRC Capital Investment Corporation, advising them to reject it as the offer price is below the current market value and includes several conditions.
RBC Capital raised its price target for APi Group to $40.00 from $37.00, maintaining an Outperform rating due to a positive results outlook. UBS reiterated its Buy rating and maintained a $42.00 price target for the company, anticipating third-quarter revenue and EBITDA figures close to consensus estimates. However, UBS noted slightly lower organic growth expectations due to challenges in the Specialty segment, which are expected to be offset by mergers, acquisitions, and foreign exchange contributions. These developments reflect a period of active financial performance and strategic advisories for APi Group.
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