Apollo Investment Corporation (AINV) Upgraded to Buy by Compass Point
Several other equities research analysts have also issued reports on the company. J P Morgan Chase & Co dropped their price objective on Apollo Investment Corporation from $6.50 to $6.00 and set a neutral rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods set a $7.00 price objective on Apollo Investment Corporation and gave the company a hold rating in a research note on Thursday, October 5th. Jefferies Group LLC reissued a buy rating and set a $7.00 price objective on shares of Apollo Investment Corporation in a research note on Friday, September 22nd. BidaskClub lowered Apollo Investment Corporation from a sell rating to a strong sell rating in a research note on Saturday, August 19th. Finally, Bank of America Corporation reissued an underperform rating and set a $6.00 price objective (up previously from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $6.28.
Apollo Investment Corporation (NASDAQ:AINV) traded up $0.18 during trading hours on Friday, reaching $6.09. The company had a trading volume of 1,595,373 shares, compared to its average volume of 834,608. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.86 and a beta of 0.93. Apollo Investment Corporation has a 12 month low of $5.65 and a 12 month high of $6.82. 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 (NASDAQ:AINV) last posted its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.16 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $66.46 million during the quarter, compared to analyst estimates of $67.75 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. equities analysts predict that Apollo Investment Corporation will post 0.63 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AINV. Bank of New York Mellon Corp raised its position in Apollo Investment Corporation by 48.5% during the first quarter. Bank of New York Mellon Corp now owns 21,132 shares of the asset manager’s stock valued at $138,000 after purchasing an additional 6,901 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Apollo Investment Corporation during the first quarter valued at about $101,000. Ameriprise Financial Inc. raised its position in Apollo Investment Corporation by 152.7% during the first quarter. Ameriprise Financial Inc. now owns 51,648 shares of the asset manager’s stock valued at $339,000 after purchasing an additional 31,207 shares in the last quarter. Legal & General Group Plc raised its position in Apollo Investment Corporation by 3.9% during the first quarter. Legal & General Group Plc now owns 534,975 shares of the asset manager’s stock valued at $3,507,000 after purchasing an additional 20,135 shares in the last quarter. Finally, Morgan Stanley raised its position in Apollo Investment Corporation by 1.6% during the first quarter. Morgan Stanley now owns 3,525,248 shares of the asset manager’s stock valued at $23,125,000 after purchasing an additional 54,340 shares in the last quarter. Institutional investors and hedge funds 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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