Apollo Management Holdings Gp, Sells 10,750,000 Shares of Presidio Inc (PSDO) Stock

Presidio Inc (NASDAQ:PSDO) major shareholder Apollo Management Holdings Gp, sold 10,750,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $14.75, for a total transaction of $158,562,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

PSDO stock opened at $16.84 on Friday. Presidio Inc has a 52-week low of $11.97 and a 52-week high of $19.74. The company has a market cap of $1.56 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.89.

Presidio (NASDAQ:PSDO) last released its earnings results on Thursday, September 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.17. Presidio had a net margin of 4.70% and a return on equity of 6.33%. The firm had revenue of $766.30 million during the quarter, compared to analyst estimates of $756.81 million. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. sell-side analysts predict that Presidio Inc will post 0.69 EPS for the current year.

The firm also recently announced an annual dividend, which will be paid on Friday, October 5th. Stockholders of record on Wednesday, September 26th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 25th. This represents a dividend yield of 0.24%.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Presidio by 22.4% during the second quarter. Bank of New York Mellon Corp now owns 157,155 shares of the company’s stock valued at $2,059,000 after purchasing an additional 28,805 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Presidio by 7.0% during the second quarter. California Public Employees Retirement System now owns 62,015 shares of the company’s stock valued at $812,000 after purchasing an additional 4,080 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Presidio by 49.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 13,131 shares of the company’s stock valued at $172,000 after purchasing an additional 4,324 shares during the last quarter. Alambic Investment Management L.P. purchased a new position in shares of Presidio during the second quarter valued at approximately $186,000. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Presidio during the second quarter valued at approximately $197,000. Hedge funds and other institutional investors own 99.46% of the company’s stock.

Several analysts have commented on PSDO shares. Goldman Sachs Group started coverage on shares of Presidio in a report on Monday, August 27th. They issued a “neutral” rating and a $15.00 price objective for the company. Zacks Investment Research upgraded shares of Presidio from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine upgraded shares of Presidio from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Finally, BidaskClub upgraded shares of Presidio from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.71.

Presidio Company Profile

Presidio, Inc provides information technology (IT) solutions to the middle market in North America. The company offers digital infrastructure solutions that enable clients to deploy IT infrastructure, as well as focuses on networking, collaboration, enterprise mobility, Internet of Things, and data analytics.

Further Reading: Hedge Funds Explained

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