Apollo Investment (NASDAQ:AINV) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. ValuEngine cut shares of Apollo Investment from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Citigroup raised shares of Apollo Investment from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $14.00 in a research note on Tuesday, January 22nd. National Securities reissued a “neutral” rating and issued a $18.00 price objective on shares of Apollo Investment in a research note on Friday, February 8th. Finally, Barclays set a $16.00 price objective on shares of Apollo Investment and gave the stock a “hold” rating in a research note on Friday, December 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.50.

Shares of NASDAQ:AINV opened at $15.23 on Tuesday. The firm has a market cap of $1.05 billion, a PE ratio of 8.32, a P/E/G ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73. Apollo Investment has a 52-week low of $12.05 and a 52-week high of $18.00.

Apollo Investment (NASDAQ:AINV) last announced its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $64.00 million for the quarter, compared to analyst estimates of $64.31 million. Apollo Investment had a return on equity of 9.25% and a net margin of 23.80%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. On average, sell-side analysts anticipate that Apollo Investment will post 1.79 EPS for the current year.

Apollo Investment announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently modified their holdings of the stock. Philadelphia Financial Management of San Francisco LLC bought a new stake in Apollo Investment during the third quarter valued at $9,591,000. Allianz Asset Management GmbH boosted its position in Apollo Investment by 19.4% during the third quarter. Allianz Asset Management GmbH now owns 1,445,292 shares of the asset manager’s stock valued at $7,862,000 after acquiring an additional 234,696 shares during the last quarter. BlackRock Inc. boosted its position in Apollo Investment by 6.3% during the third quarter. BlackRock Inc. now owns 1,033,031 shares of the asset manager’s stock valued at $5,620,000 after acquiring an additional 61,313 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Apollo Investment by 1.9% during the third quarter. Advisors Asset Management Inc. now owns 616,982 shares of the asset manager’s stock valued at $3,356,000 after acquiring an additional 11,405 shares during the last quarter. Finally, Callodine Capital Management LP bought a new stake in Apollo Investment during the fourth quarter valued at $2,583,000. 45.03% of the stock is currently owned by institutional investors.

About Apollo Investment

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.

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Analyst Recommendations for Apollo Investment (NASDAQ:AINV)

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