Apollo Investment Corporation (AINV) Lowered to Sell at BidaskClub
BidaskClub cut shares of Apollo Investment Corporation (NASDAQ:AINV) from a hold rating to a sell rating in a report released on Tuesday morning.
AINV has been the topic of a number of other research reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $6.50 target price on shares of Apollo Investment Corporation in a report on Friday, April 28th. Jefferies Group LLC reissued a buy rating and issued a $7.00 target price on shares of Apollo Investment Corporation in a report on Friday, July 14th. National Securities reissued a neutral rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a report on Thursday, May 18th. BMO Capital Markets reissued a hold rating and issued a $6.00 target price on shares of Apollo Investment Corporation in a report on Thursday, May 18th. Finally, Zacks Investment Research lowered Apollo Investment Corporation from a hold rating to a sell rating in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $6.40.
Apollo Investment Corporation (AINV) traded up 0.47% during midday trading on Tuesday, reaching $6.39. The company’s stock had a trading volume of 439,270 shares. Apollo Investment Corporation has a 12-month low of $5.42 and a 12-month high of $6.82. The stock’s 50 day moving average is $6.38 and its 200 day moving average is $6.35.
Apollo Investment Corporation (NASDAQ:AINV) last released its earnings results on Thursday, May 18th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $66.30 million for the quarter, compared to analyst estimates of $68.89 million. Apollo Investment Corporation had a return on equity of 9.81% and a net margin of 6.56%. The company’s revenue for the quarter was down 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities analysts expect that Apollo Investment Corporation will post $0.64 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Wednesday, June 21st were paid a $0.15 dividend. The ex-dividend date was Monday, June 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.39%. Apollo Investment Corporation’s dividend payout ratio (DPR) is presently 750.00%.
Several hedge funds have recently bought and sold shares of AINV. Muzinich & Co. Inc. increased its stake in Apollo Investment Corporation by 40.9% in the first quarter. Muzinich & Co. Inc. now owns 8,846,122 shares of the asset manager’s stock worth $58,031,000 after buying an additional 2,569,874 shares during the period. UBS Group AG increased its stake in Apollo Investment Corporation by 54.7% in the first quarter. UBS Group AG now owns 2,461,815 shares of the asset manager’s stock worth $16,150,000 after buying an additional 870,491 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Apollo Investment Corporation by 122.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 816,242 shares of the asset manager’s stock worth $5,354,000 after buying an additional 448,680 shares during the period. Highbridge Capital Management LLC acquired a new stake in Apollo Investment Corporation during the fourth quarter worth $1,436,000. Finally, James Investment Research Inc. acquired a new stake in Apollo Investment Corporation during the second quarter worth $1,190,000. Hedge funds and other institutional investors own 46.24% of the company’s stock.
About Apollo Investment Corporation
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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