Apollo Investment Corporation’s (AINV) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Apollo Investment Corporation (NASDAQ:AINV) in a report released on Friday morning. They currently have a $7.00 target price on the asset manager’s stock.
A number of other research firms have also commented on AINV. Zacks Investment Research lowered Apollo Investment Corporation from a hold rating to a sell rating in a report on Wednesday, August 2nd. BidaskClub downgraded Apollo Investment Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. National Securities reiterated a neutral rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a research report on Wednesday, August 9th. Bank of America Corporation reiterated an underperform rating and issued a $6.00 price objective (up previously from $5.50) on shares of Apollo Investment Corporation in a research report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods set a $7.00 price objective on Apollo Investment Corporation and gave the stock a hold rating in a research report on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Apollo Investment Corporation has an average rating of Hold and an average target price of $6.25.
Apollo Investment Corporation (NASDAQ:AINV) opened at 5.91 on Friday. The firm has a 50-day moving average price of $6.15 and a 200 day moving average price of $6.36. Apollo Investment Corporation has a one year low of $5.65 and a one year high of $6.82.
Apollo Investment Corporation (NASDAQ:AINV) last posted its quarterly earnings results on Friday, August 4th. The asset manager reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The firm had revenue of $66.70 million during the quarter, compared to analyst estimates of $65.19 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, equities research analysts predict that Apollo Investment Corporation will post $0.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 10.19%. Apollo Investment Corporation’s payout ratio is 150.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Karp Capital Management Corp purchased a new stake in Apollo Investment Corporation during the first quarter valued at about $101,000. Atria Investments LLC purchased a new stake in Apollo Investment Corporation during the second quarter valued at about $103,000. GAM Holding AG raised its position in Apollo Investment Corporation by 2.7% during the second quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after purchasing an additional 441 shares in the last quarter. Rhumbline Advisers raised its position in Apollo Investment Corporation by 0.3% during the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 58 shares in the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in Apollo Investment Corporation during the second quarter valued at about $112,000. Institutional investors and hedge funds own 45.84% 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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