Apollo Takes Major Stake in Atlantic Aviation, KKR's Long-Term Confidence in Focus

Apollo Global Management, Inc. shares edged higher on Thursday after the firm announced a strategic partnership with KKR regarding Atlantic Aviation. Atlantic Aviation is a private aviation infrastructure operator valued at nearly $10 billion.

The gain came against a backdrop of a 0.4% decline in the financial sector and a 0.6% rise in the S&P 500.

Apollo Acquires Significant Stake in Atlantic

Funds managed by Apollo acquired a significant interest in Atlantic Aviation in a transaction valuing the company at nearly $10 billion, while funds managed by KKR will continue as a significant shareholder.

Atlantic operates one of the largest networks of fixed-base operators in the United States, providing aircraft fueling, hangar rental, and other aviation services under long-term airport concession agreements.

Apollo Partner David Cohen highlighted Atlantic's infrastructure footprint and growth prospects.

Cohen stated: "The private aviation market has structural tailwinds that we believe will persist, and Atlantic is well-positioned to capitalize on this growth."

KKR Maintains Its Investment

KKR acquired Atlantic Aviation in 2021 and has since supported the company through acquisitions, organic expansion, and operational investments.

KKR Partner Dash Lane said "significant opportunities lie ahead," and the firm's continued investment reflects confidence in Atlantic's long-term growth and the industry at large.

APO Technical Outlook: Moving Averages and Momentum

Apollo shares traded at $133.67, slightly above their 20-day simple moving average (SMA) of $133.37, indicating a recent consolidation phase rather than a strong directional move.

The stock remains 6.2% above its 50-day SMA of $126.65 and 6.2% above its 100-day SMA of $126.68. It is also 5.4% above its 200-day SMA of $127.66, keeping the medium-term trend constructive.

The Relative Strength Index (RSI) stands at 54.56, in neutral territory, suggesting the stock is neither overbought nor oversold.

The 20-day SMA remains above the 50-day SMA, supporting the near-term setup. However, a death cross that occurred in July—where the 50-day SMA crossed below the 200-day SMA—still reflects lingering long-term technical caution.

Key resistance: $144.50—the prior top before the 52-week high zone.

Key support: $116.50—the prior bottom near the lower end of the 52-week range.

Analyst Consensus and Recent Rating Actions

Apollo holds a "Buy" consensus rating with an average price target of $149.10. Recent analyst actions include:

UBS: Buy, raised price target to $172 on August 5

RBC Capital Markets: Sector Perform, raised price target to $146 on August 5

Barclays: Overweight, raised price target to $157 on August 5

ETFs with Apollo Exposure

Tema Listed Private Managers ETF: 5.13% weight

Bahl & Gaynor Income Growth ETF: 3.49% weight

VanEck Alternative Asset Manager ETF: 7.14% weight

Why it matters: Apollo's larger weightings in these ETFs mean that significant inflows or outflows could translate into corresponding buying or selling pressure on the stock.

Price action: As of Thursday's close, Apollo Global Management shares were up 1.12% at $135.16; KKR shares were up 1.95% at $110.62.