Apollo Investment Corporation (AINV) Releases Earnings Results, Hits Expectations
Apollo Investment Corporation (NASDAQ:AINV) posted its earnings results on Friday. The asset manager reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16, Briefing.com reports. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The company had revenue of $66.46 million during the quarter, compared to the consensus estimate of $67.75 million. During the same quarter last year, the firm earned $0.18 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis.
Shares of Apollo Investment Corporation (NASDAQ AINV) traded up $0.22 during midday trading on Friday, hitting $6.09. The company had a trading volume of 1,595,373 shares, compared to its average volume of 790,283. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Apollo Investment Corporation has a 52 week low of $5.65 and a 52 week high of $6.82. The company has a market capitalization of $1,337.94, a PE ratio of 9.37, a P/E/G ratio of 1.93 and a beta of 0.93.
A number of research firms have recently weighed in on AINV. Zacks Investment Research downgraded Apollo Investment Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. National Securities reissued a “neutral” rating and set a $6.00 target price on shares of Apollo Investment Corporation in a report on Wednesday, August 9th. BidaskClub cut Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and issued a $7.00 price target on shares of Apollo Investment Corporation in a research report on Friday, July 14th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $6.00 price target (up previously from $5.50) on shares of Apollo Investment Corporation in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $6.28.
An institutional investor recently raised its position in Apollo Investment Corporation stock. The Manufacturers Life Insurance Company increased its stake in Apollo Investment Corporation (NASDAQ:AINV) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,016 shares of the asset manager’s stock after purchasing an additional 168 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Apollo Investment Corporation were worth $115,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 45.73% of the company’s stock.
Apollo Investment Corporation Company Profile
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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