Apollo Investment Corporation (AINV) Receives Average Recommendation of “Hold” from Analysts
Apollo Investment Corporation (NASDAQ:AINV) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.25.
A number of equities analysts recently issued reports on AINV shares. Bank of America Corporation restated 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 upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Apollo Investment Corporation in a report on Friday, July 14th. Finally, National Securities reissued a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a report on Wednesday, August 9th.
Apollo Investment Corporation (NASDAQ AINV) traded up 0.33% during trading on Wednesday, hitting $6.14. The stock had a trading volume of 733,435 shares. Apollo Investment Corporation has a 52-week low of $5.65 and a 52-week high of $6.82. The company’s 50 day moving average is $6.05 and its 200 day moving average is $6.33.
Apollo Investment Corporation (NASDAQ:AINV) last posted its quarterly earnings data on Friday, August 4th. The asset manager reported $0.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The business had revenue of $66.70 million during the quarter, compared to the consensus estimate of $65.19 million. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, equities research analysts forecast that Apollo Investment Corporation will post $0.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 21st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 9.77%. Apollo Investment Corporation’s dividend payout ratio is presently 150.00%.
A number of institutional investors and hedge funds have recently made changes to their positions in AINV. Bank of New York Mellon Corp raised its stake in shares of Apollo Investment Corporation by 48.5% during the 1st quarter. Bank of New York Mellon Corp now owns 21,132 shares of the asset manager’s stock valued at $138,000 after buying an additional 6,901 shares during the last quarter. Comerica Bank acquired a new position in shares of Apollo Investment Corporation in the 1st quarter valued at about $365,000. Karp Capital Management Corp acquired a new position in shares of Apollo Investment Corporation in the 1st quarter valued at about $101,000. Ameriprise Financial Inc. lifted its holdings in shares of Apollo Investment Corporation by 152.7% in the 1st quarter. Ameriprise Financial Inc. now owns 51,648 shares of the asset manager’s stock valued at $339,000 after buying an additional 31,207 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Apollo Investment Corporation by 3.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 27,951 shares of the asset manager’s stock valued at $183,000 after buying an additional 820 shares during the period. 45.84% of the stock is currently owned by institutional investors.
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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.
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