Apollo Investment Corp. Director Buys $25,869 in Stock (AINV)
Apollo Investment Corp. (NASDAQ:AINV) Director Frank C. Puleo bought 3,087 shares of Apollo Investment Corp. stock on the open market in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average price of $8.38 per share, for a total transaction of $25,869.06. Following the completion of the purchase, the director now directly owns 13,555 shares in the company, valued at approximately $113,591. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Apollo Investment Corp. (NASDAQ:AINV) opened at 8.36 on Friday. Apollo Investment Corp. has a 52 week low of $7.28 and a 52 week high of $9.21. The stock has a 50-day moving average of $8.0 and a 200-day moving average of $8.47. The company has a market cap of $1.979 billion and a price-to-earnings ratio of 7.05. Apollo Investment Corp. also saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 10,184,641 shares, an increase of 23.6% from the April 30th total of 8,237,335 shares. Based on an average trading volume of 2,073,477 shares, the days-to-cover ratio is currently 4.9 days. Approximately 4.3% of the shares of the company are sold short.
Apollo Investment Corp. (NASDAQ:AINV) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, analysts predict that Apollo Investment Corp. will post $0.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, July 7th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 9.57%. The ex-dividend date is Wednesday, June 18th.
A number of analysts have recently weighed in on AINV shares. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Apollo Investment Corp. from $8.50 to $9.00 in a research note on Thursday, May 22nd. Separately, analysts at SunTrust reiterated a “neutral” rating on shares of Apollo Investment Corp. in a research note on Wednesday, May 21st. They now have a $8.50 price target on the stock. Finally, analysts at JMP Securities upgraded shares of Apollo Investment Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $9.00 price target on the stock, up previously from $8.06. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.87.
Apollo Investment Corporation (NASDAQ:AINV) is a closed-end, non-diversified management investment company that has elected to be treated as a business development company (BDC).
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