Apollo Investment Corp. Sees Significant Drop in Short Interest (AINV)
Shares of Apollo Investment Corp. (NASDAQ:AINV) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,319,072 shares, a drop of 28.9% from the July 15th total of 1,856,173 shares, American Banking News reports. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 1,595,338 shares, the short-interest ratio is presently 0.8 days.
AINV has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Apollo Investment Corp. in a research note on Friday, August 8th. They now have a $8.50 price target on the stock, up previously from $8.00. Separately, analysts at SunTrust upgraded shares of Apollo Investment Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 9th. They now have a $10.00 price target on the stock, up previously from $8.56. Finally, analysts at Bank of America upgraded shares of Apollo Investment Corp. to a “neutral” rating in a research note on Tuesday, June 17th. They now have a $8.75 price target on the stock, down previously from $9.00. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Apollo Investment Corp. currently has an average rating of “Buy” and an average price target of $9.04.
Apollo Investment Corp. (NASDAQ:AINV) opened at 8.61 on Friday. Apollo Investment Corp. has a 1-year low of $7.75 and a 1-year high of $9.21. The stock has a 50-day moving average of $8.63 and a 200-day moving average of $8.4.
Apollo Investment Corp. (NASDAQ:AINV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.01. The company had revenue of $102.58 million for the quarter, compared to the consensus estimate of $101.72 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Apollo Investment Corp. will post $0.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 6th. Investors of record on Friday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 9.30%. The ex-dividend date is Wednesday, September 17th.
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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.