5 Best High Beta Stocks To Buy Now

4. Apollo Global Management, Inc. (NYSE:APO)

Number of Hedge Fund Holders: 61

Beta Value: 1.66

Apollo Global Management, Inc. (NYSE:APO) is a private equity firm specializing in investments across credit, private equity, and real estate markets. The company is headquartered in New York, with additional offices in North America, Asia, India, and Europe. On October 18, Credit Suisse analyst Bill Katz initiated coverage of Apollo Global Management, Inc. (NYSE:APO) with an Outperform rating and a $59.50 price target. The analyst sees “strong and diversifying” net new asset potential, increasing fee-related earnings margins, upside to consensus estimates, and rising free cash flow deployment for Apollo Global Management, Inc. (NYSE:APO).

According to Insider Monkey’s second quarter database, 61 hedge funds were long Apollo Global Management, Inc. (NYSE:APO), compared to 64 funds in the prior quarter. 

Here is what Miller Value Partners Income Strategy has to say about Apollo Global Management, Inc. (NYSE:APO) in its Q4 2021 investor letter:

“Apollo Global Management (APO) rose 18.4% during the quarter. The company reported Q3 distributable earnings (DE) of $1.71, well ahead of consensus of $1.10 and the quarterly dividend of $0.50/share (2.8% annualized yield). Fee-related earnings of $300M beat by 7% while realized net performance fees of $312M topped estimates by 23%. Total assets under management (AUM) of $481.1Bn and fee-earning AUM of $361.3Bn both rose +2% sequentially on the back of robust capital raising with $18.1Bn of inflows over the period. Additionally, Apollo hosted their 2021 Investor Day, outlining long-term financial targets including over $9/share in distributable earnings by 2026 (14% Compound Annual Growth Rate (CAGR) from $5.50 pro-forma 2022E) and fee-related earnings of $4.50-$4.75 (18% CAGR). Management expects to roughly double AUM by 2026 to $1trn from $481Bn currently with a 2.25x increase in fee-related revenues to $4.6Bn.”