ETFs Are Net Sellers of Apollo Global (APO) on Wednesday
This article first appeared on GuruFocus.
ETFs sold a net $51.1 million of Apollo Global Management (APO) in Wednesday’s session, with 23 funds buying and 8 selling. More ETFs traded the other way, but in smaller amounts, leaving the day net negative by dollar value. ETF activity has now leaned to selling for two straight sessions, following a net $0.4 million outflow on Tuesday and a net $0.1 million inflow on Monday. The prior two sessions saw a net $3.1 million outflow on Oct. 23 and a net $1.5 million inflow on Oct. 22.
Every ETF and guru trade in APO is tracked on the APO guru trades page.
Which ETFs sold APO on Wednesday?
The largest sellers by dollar value were CGDV ($57.0 million), DFUS ($0.3 million) and IWB ($0.1 million). In all, 23 ETFs added shares and 8 cut them.
CGDV drove the move, cutting 502,220 shares for a $57.0 million reduction, a 22.61% drop in its stake, with a 0.5% weight. DFUS trimmed 2,936 shares ($0.3 million), IWB shed 496 shares ($0.1 million) and SPYM cut 448 shares ($0.1 million); DGRW, EUSA and EFIV posted negligible changes, while USPX added 22 shares. Apollo operates in the Financial Services sector within Asset Management and carries a market cap of $70.0 billion.
Have ETFs been buying or selling APO lately?
Over the last 5 reported days, ETFs were net buyers on 2 and net sellers on 3, so the recent trend is mostly selling.
What does APO do?
Apollo Global Management is a leading alternative asset manager distinguished by its credit-first model and ownership of Athene, one of America’s largest annuity providers.
Apollo’s trailing-12-month revenue was $36.01 billion, up 37.0% over one year, with a gross margin of 60.4% and a net margin of 5.2%. It trades at a P/E of 44.84, P/B of 3.48 and P/S of 1.99, against a $70.0 billion market cap. The GF Score is 77, GF Value is $112.59 versus a price of $118.56, the dividend yield is 1.85% and the year-to-date return is -17.07%.