Athene (ATH) Catches Eye: Stock Jumps 5.5%
Athene Holding Ltd. ATH was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $37.43 to $42.06 in the past one-month time frame.
The upmove came following reports that leading global alternative investment manager, Apollo Global Management, is buying 18% incremental stake in Athene at a premium to strengthen strategic relationship and boost alignment.
The company has seen a mixed track record when it comes to estimate revision of one increase and two decreases over the past few weeks, while the Zacks Consensus Estimate for the current quarter hasn’t been in a trend either. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Athene currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Athene Holding Ltd. Price
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