Barclays Raises Apollo Investment (AINV) Price Target to $18.00
Apollo Investment (NASDAQ:AINV) had its price target upped by Barclays from $6.00 to $18.00 in a research report released on Tuesday. They currently have an equal weight rating on the asset manager’s stock.
AINV has been the subject of several other reports. BidaskClub lowered shares of Apollo Investment from a buy rating to a hold rating in a research note on Saturday, August 11th. Wells Fargo & Co dropped their price objective on shares of Apollo Investment from $21.00 to $18.00 and set an outperform rating for the company in a research note on Thursday, October 4th. ValuEngine downgraded Apollo Investment from a hold rating to a sell rating in a research report on Tuesday, August 7th. Citigroup assumed coverage on Apollo Investment in a research report on Thursday, August 23rd. They set a sell rating and a $15.00 target price for the company. Finally, National Securities reiterated a neutral rating and set a $18.00 target price on shares of Apollo Investment in a research report on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $18.21.
NASDAQ AINV opened at $15.26 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.69. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.71 and a beta of 0.82. Apollo Investment has a 52 week low of $14.84 and a 52 week high of $18.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.60 annualized dividend and a dividend yield of 3.93%. Apollo Investment’s dividend payout ratio (DPR) is 98.36%.
Several large investors have recently added to or reduced their stakes in AINV. Verition Fund Management LLC bought a new stake in shares of Apollo Investment during the second quarter worth $106,000. Caxton Associates LP bought a new stake in shares of Apollo Investment in the third quarter valued at about $108,000. Russell Investments Group Ltd. bought a new stake in shares of Apollo Investment in the third quarter valued at about $116,000. Ramsey Quantitative Systems raised its holdings in shares of Apollo Investment by 94.0% in the third quarter. Ramsey Quantitative Systems now owns 25,463 shares of the asset manager’s stock valued at $139,000 after acquiring an additional 12,339 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Apollo Investment by 313.5% in the third quarter. TCI Wealth Advisors Inc. now owns 27,091 shares of the asset manager’s stock valued at $147,000 after acquiring an additional 20,540 shares in the last quarter. Institutional investors and hedge funds own 44.56% of the company’s stock.
About Apollo Investment
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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