Apollo Investment Corporation (AINV) Receives Consensus Recommendation of “Hold” from Analysts
Apollo Investment Corporation (NASDAQ:AINV) has been assigned an average rating of “Hold” from the twelve analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.43.
Several equities analysts have recently issued reports on AINV shares. Compass Point raised Apollo Investment Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Keefe, Bruyette & Woods set a $7.00 price objective on Apollo Investment Corporation and gave the stock a “hold” rating in a report on Thursday, October 5th. Bank of America Corporation reiterated an “underperform” rating and issued a $6.00 target price (up previously from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. Zacks Investment Research raised Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of Apollo Investment Corporation in a research report on Friday, November 3rd.
Shares of Apollo Investment Corporation (NASDAQ:AINV) traded up $0.02 during mid-day trading on Thursday, hitting $6.07. 465,200 shares of the stock traded hands, compared to its average volume of 876,472. The stock has a market capitalization of $1,321.58, a P/E ratio of 9.31, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.61 and a current ratio of 0.61. Apollo Investment Corporation has a 52 week low of $5.69 and a 52 week high of $6.82.
Apollo Investment Corporation (NASDAQ:AINV) last announced its quarterly earnings results on Friday, November 3rd. The asset manager reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $66.46 million for the quarter, compared to the consensus estimate of $67.75 million. Apollo Investment Corporation had a net margin of 29.87% and a return on equity of 9.51%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. equities research analysts predict that Apollo Investment Corporation will post 0.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 21st will be paid a $0.15 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $0.60 dividend on an annualized basis and a yield of 9.88%. Apollo Investment Corporation’s dividend payout ratio (DPR) is 166.67%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in Apollo Investment Corporation during the second quarter worth approximately $7,552,000. Muzinich & Co. Inc. raised its holdings in Apollo Investment Corporation by 8.1% in the second quarter. Muzinich & Co. Inc. now owns 9,566,415 shares of the asset manager’s stock worth $61,129,000 after purchasing an additional 720,293 shares during the period. Van ECK Associates Corp raised its holdings in Apollo Investment Corporation by 28.8% in the second quarter. Van ECK Associates Corp now owns 1,520,764 shares of the asset manager’s stock worth $9,718,000 after purchasing an additional 339,843 shares during the period. Telemus Capital LLC raised its holdings in Apollo Investment Corporation by 34.9% in the third quarter. Telemus Capital LLC now owns 1,245,571 shares of the asset manager’s stock worth $7,610,000 after purchasing an additional 322,123 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Apollo Investment Corporation by 78.8% during the second quarter. Goldman Sachs Group Inc. now owns 505,014 shares of the asset manager’s stock worth $3,228,000 after acquiring an additional 222,583 shares during the period. Institutional investors and hedge funds own 46.31% of the company’s stock.
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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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