APO

Apollo Global Management Inc - Ordinary Shares - Class A

Finance/Real Estate, Event Driven/Special Sit


Presented:10/14/2021
Price:$67.80
Cap:$27.38B
Current Price:$141.55
Cap:$112.10B

Presented

Date10/14/2021
Price$67.80
Market Cap$27.38B
Ent Value$32.18B
P/E Ratio7.85x
Book Value$4.48
Div Yield3.11%
Shares O/S403.78M
Ave Daily Vol2,121,571
Short Int10.37%

Current

Price$141.55
Market Cap$112.10B
Apollo Global Management, Inc. engages in the provision of alternative investment management services. It operates through the following segments: Credit, Private Equity, and Real Assets. The Credit segment focuses on the investment in non-control corporate and structured debt instruments including performing, stressed, and distressed instruments across the capital structure. The Private Equity segment consists of investment in control equity and related debt instruments, convertible securities, and distressed debt instruments. The Real Assets segment includes investment in real estate equity and infrastructure equity; and real estate and infrastructure debt. The company was founded by Marc Jeffrey Rowan, Leon David Black, and Joshua Jordan Harris in 1990 and is headquartered in New York, NY.

Publicly traded companies mentioned herein: Apollo Global Management Inc (APO), Ares Management Corp (ARES), Athene Holding Ltd (ATH), Blackstone Inc (BX), KKR & Co Inc (KKR)

Highlights

The presenter is long shares of Apollo Global Management Inc (APO), seeing the company as an attractively valued alternative asset manager which has underperformed during a management change and is closing a 50% earnings accretive transaction of Athene in January 2022. APO has lagged other alternative asset management peers such as BX, KKR, and ARES, which are up 93%, 65%, and 68% YTD, respectively. Following the completion of the Athene deal, he believes APO will generate $6 in earnings in 2022, and that the stock has 30%+ upside to $90 per share over the next year based on a 15x multiple on his 2022 earnings estimate.

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Idea Discussion

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