Apollo Investment Corporation (NASDAQ:AINV) had its price target reduced by analysts at J P Morgan Chase & Co from $6.50 to $6.00 in a report released on Wednesday. The brokerage currently has a “neutral” rating on the asset manager’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 1.35% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods set a $7.00 price target 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 issued a $7.00 price target on shares of Apollo Investment Corporation in a research note on Friday, September 22nd. BidaskClub cut Apollo Investment Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Bank of America Corporation reissued an “underperform” rating and issued a $6.00 price target (up previously from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. Finally, National Securities reissued a “neutral” rating and issued a $6.00 price target on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.29.

Apollo Investment Corporation (NASDAQ AINV) traded up 0.4493% during trading on Wednesday, hitting $5.9466. The stock had a trading volume of 117,020 shares. Apollo Investment Corporation has a 52 week low of $5.65 and a 52 week high of $6.82. The company has a 50-day moving average of $6.02 and a 200 day moving average of $6.28.

Apollo Investment Corporation (NASDAQ:AINV) last issued its quarterly earnings results on Friday, August 4th. The asset manager reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $65.19 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Analysts anticipate that Apollo Investment Corporation will post $0.63 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AINV. Karp Capital Management Corp acquired a new stake in Apollo Investment Corporation during the first quarter worth approximately $101,000. Atria Investments LLC acquired a new stake in Apollo Investment Corporation in the second quarter valued at approximately $103,000. GAM Holding AG grew its stake in Apollo Investment Corporation by 2.7% in the second quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 441 shares during the period. Rhumbline Advisers grew its stake in Apollo Investment Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after acquiring an additional 58 shares during the period. Finally, Essex Financial Services Inc. acquired a new stake in Apollo Investment Corporation in the second quarter valued at approximately $112,000. 45.73% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Apollo Investment Corporation (NASDAQ:AINV)

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